The Financial Supervisory Service (FSS) plans to send out inspection reports to major sellers of equity-linked securities (ELS) products tied to the Hong Kong stock market, including five commercial banks - KB Kookmin, Hana, Shinhan, NH NongHyup Banks and Standard Chartered Bank Korea - sometime within this week.
The financial regulator and Naver, the top online portal operator, signed an agreement Wednesday on cooperation for the digitalization of the financial sector.
Naver s latest artificial intelligence (AI) technology will be applied to the financial tasks of the Financial Supervisory Service (FSS), as the two parties formed a strategic partnership on Wednesday.
Korea's top lenders have all decided to accept the compensation guidelines suggested by the country's financial watchdog, agreeing to make up for the losses from the misselling of equity-linked securities tied to a Hong Kong index, with KB Kookmin Bank and Shinhan Bank joining the list Friday. Following company board meetings held earlier in the day, KB Kookmin Bank and Shinhan Bank announced they would car.