South Korea mulls easing restrictions on investing in fintech: report

The country’s top regulator shared plans to enact a new law on the matter.

South Korea may possibly ease restrictions on financial companies’ investments in fintech firms, reported Yonhap, as a means to expand support for the fintech industry.

Jeong Eun-bo, chief of the financial regulator Financial Supervisory Service, said that he is seeking to ease the restrictions, saying his agency will push for the enactment of a relevant law on the matter.

"We will push for the enactment of the so-called fintech nurturing act intended to bolster financial companies' investment in fintech firms," he reportedly told attendees of a meeting with leaders in the fintech industry.

The act currently under review includes easing restrictions on the scope of fintech firms that can receive investment from financial companies and streamlining approval procedures for such investment.

South Korea has made moves to further support its fast-growing fintech industry. Chiefly, the government plans to launch a fund worth $252m (KRW300b) next year to support fintech firms, reported Yonhap.

Follow the link s for more news on

South Korea Financial Firms

South Korea fintechs

Also Read

167 financial services firms adopt AI initiatives: report

Japanese banks seek M&As overseas

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit