News and developments
Big Blur: Competition with Big Tech Causing Banks to Launch New Businesses, and New Administration’s Regulatory Response
On May 3, 2022, a week before President Yoon Suk-yeol took office, the Presidential Transition Committee announced the “110 National Agenda of the Yoon Suk-yeol Government” (the “110 National Agenda”). The 110 National Agenda are further broken down into six categories: politics/administration, economy, society, future, diplomacy/national security, and the era of geographical decentralization. Several of the 110 National Agenda suggest that the new government expects the financial and non-financial sectors to actively converge, and that financial authorities will be focusing on establishing and improving the financial system in response to such convergence.
https://www.kimchang.com/en/insights/detail.kc?sch_section=4&idx=25287
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The Big Blur Phenomenon
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The New Administration’s Regulatory Direction
https://www.kimchang.com/en/insights/detail.kc?sch_section=4&idx=25287