P2P 'Probit' Registered as On-Trade Business Operator... Total 33 Companies Integrated into the Regulatory System

[Asia Economy Reporter Jin-ho Kim] The number of P2P (peer-to-peer) companies registered as online investment-linked finance operators (On-tu operators) has increased to a total of 33.

The Financial Services Commission announced on the 29th that Probit has met the registration requirements and has been registered as an On-tu operator.

To register as an On-tu operator, companies must meet requirements such as having a minimum capital of 500 million KRW, securing personnel and physical facilities, establishing internal control systems and business plans, having no sanctions against executives, the social creditworthiness of major shareholders, and the applicant's sound financial status.

The FSC explained, "With the registration of On-tu operators subject to the On-tu Act, P2P finance users will be more thoroughly protected," and added, "It is expected to contribute to enhancing industry credibility and healthy development in the future."

Meanwhile, as of May, a total of 40 P2P companies had submitted registration applications to the FSC. As of this date, 33 have been registered.

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