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Bank Household Loans Rise As Growth Slows

Bank household loans rose by 5.4 trillion won, or approximately $3.82 billion, last month, marking five consecutive months of growth.

  • Bank household loans in South Korea grew by 5.4 trillion won ($3.82 billion) in the previous month.
  • Corporate lending accelerated, with bank loans to businesses rising by 7.7 trillion won.

South Korea Tightens Crypto Exchange Screening

The scope of screening for virtual asset service providers will be expanded from existing representatives and executives to include major shareholders, and substantive verification of financial soundness and internal control systems will be strengthened. The Korea Financial Intelligence Unit (KoFIU)

  • South Korea expands crypto exchange screening to major shareholders and social creditworthiness.
  • Debt-to-equity ratio limit set at 200% or below for compliant exchanges.
  • Operators required to have 4 AML staff, compliance officer, and ISMS certification.

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