Extension of 2-Year Designation Period for Innovative Financial Services of 6 Companies Including Hana Card

[Asia Economy Reporter Jin-ho Kim] The Financial Services Commission announced on the 8th that it held a regular meeting and decided to extend the designation period of six innovative financial services by two years.

The services with a two-year extension of the designation period are ▲point-based check card issuance (Hana Card) ▲financial investment gift certificate trading through an online shopping platform (Korea Investment & Securities) ▲personalized pension asset management platform (WellsGuide) ▲facial recognition payment (Shinhan Card) ▲voice phishing and mistaken remittance prevention (Korea Credit Bureau) ▲small business credit evaluation based on telecommunications and e-commerce data (SK Telecom), totaling six services.

The FSC explained that these services have shown stable operational performance and that the necessity of the designation period was recognized as they complement the existing credit evaluation practices led by financial authorities.

However, it added that in order to ensure stable operation of the services even after the designation period ends, it is necessary to obtain a license for personal business credit evaluation.

An FSC official stated, "As an additional condition, within six months after the extension of the designation period, plans to apply for a personal business credit evaluation license and business operation plans must be prepared and submitted."

This content was produced with the assistance of AI translation services.