Follows SK GVT Apr. 2025 proposed revisions re credit business registration, #250079.
Outline of Revisions
Proposed that the scope of prohibited misleading advertisements that impersonate the government or financial institutions be expanded to include recently launched policy-based inclusive finance products such as illegal private finance prevention loans.
In addition, proposes to add Saemaul Geumgo Asset Management Company to institutions eligible for transfer of large debts, following amendment to Community credit cooperatives act, with respect to purchasing and managing bad debts.
Effectiveness
Comments shall be submitted by May 19 for planned effectiveness from Jul. 22, 2025.
Regulators
SK FSC
Entity Types
Bank; Inv Co; MSB
Reference
CP, Nt 2025-177, PR, 4/8/2025; ESG; Reg, Nt 2024-24, 6/12/2024; Law 20648, 1/7/2025; Law 20714, 1/21/2025;
Functions
Advertising; Compliance; Financial; Legal; Operations; Social
