Name, resident number changes to automatically apply at all financial institutions
Name and resident registration number changes made with one financial institution will be automatically applied at all other financial institutions, officials said Monday. The Regulatory Rationalization Committee said it will seek to revise related regulations in cooperation with the interior ministry, the Financial Services Commission and the Financial Supervisory Service, as changes of names…
The Korea Times reports that changes to a person's name or resident registration number, which are becoming increasingly common due to the rise in online data theft, will now automatically apply across all financial institutions in South Korea. The Regulatory Rationalization Committee is working on revising related regulations in collaboration with the interior ministry, Financial Services Commission, and Financial Supervisory Service.
Currently, individuals must visit each financial institution they hold an account with after obtaining court or administrative approval for such changes. In 2024, there were 84,290 name changes and 1,225 resident number changes approved.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
