Fintech Industry Association Holds National Assembly Forum on 'One-to-One Lending Act 1-Year Implementation Review'

[Asia Economy Reporter Kiho Sung] The Korea Fintech Industry Association announced on the 12th that it will hold a forum titled "One Year Since the Enforcement of the Online Investment-Linked (P2P) Finance Act: Evaluation and Development Directions," hosted by Yoon Kwan-seok, a member of the National Assembly's Political Affairs Committee from the Democratic Party of Korea, and co-organized with the Online Investment-Linked Finance Association.

This forum was organized to evaluate the P2P finance industry and explore future development directions on the occasion of the first anniversary of the enactment and enforcement of the Act on the Protection of Users and the Regulation of Online Investment-Linked Finance Businesses. The chairperson of the forum will be Professor Dongwon Ko from Sungkyunkwan University.

The forum will proceed with presentations including "The Current State of P2P Finance and Institutional Improvement Directions" by Minseop Yoon, Research Fellow at the Korea Financial Consumer Protection Foundation, and "Regulatory Improvement Plans for Fostering Online Investment-Linked Finance Businesses" by Hyunil Hwang, Attorney at Law from Sejong Law Firm. The discussion will be broadcast live on YouTube.

The discussion will analyze market changes and the current status of the industry following the enforcement of the Online Investment-Linked Finance Act, the world's first P2P industry-specific law, and will deliberate on improvement measures to soundly foster the online investment-linked finance industry and firmly establish it within the institutional framework.

Seonghoon Seo, Vice Chairman of the Korea Fintech Industry Association and CEO of Honest Fund, who attended as a panelist, stated, "The reason the Online Investment-Linked Finance Act was enacted first in the world is to lower the entry barriers to the financial industry through technological advancement, enabling more citizens to access easier and more convenient financial services." He added, "I hope this forum will be an opportunity to objectively review the past year since the enforcement of the Act and, based on this, discuss and reach consensus on directions for the entire industry to be more trusted and grow as an alternative finance sector."

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