24
Jun
Would-be Korean challenger banks regroup after applications rejected by FSC
Korea’s would-be challenger banks received a stern rebuke from the nation’s Financial Supervisory Commission in May as the top financial regulator rejected applications for a virtual-banking license from Viva Republica-backed Toss Bank and Kiwoom Securities-backed Kiwoom Bank. The regulator found Toss’s capital situation problematic and Kiwoom’s plan unfeasible. Both Toss…
