Designation of Two Innovative Financial Services Including 'Foreign Currency Hana Money Remittance'

Hana Card's service allowing user-to-user transfers (transfers) of foreign currency Hana Money (foreign currency prepaid electronic payment means) has been designated as an innovative financial service. Additionally, a special exemption was granted for the Korea Housing Finance Corporation's service providing payment guarantees for covered bonds issued by financial companies.

On the afternoon of the 3rd, the Financial Services Commission held a regular meeting at the Government Seoul Office in Jongno-gu, Seoul, and announced the designation of two new innovative financial services. It also accepted regulatory improvement requests for one innovative financial service and changed the designation details for another.

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The Financial Services Commission allowed Hana Card to enable user-to-user transfers of foreign currency Hana Money and expanded the maximum issuance face value (charging limit) from the existing 2 million KRW to 3 million KRW. For the Korea Housing Finance Corporation, since it was unclear whether the payment guarantee service for covered bonds issued by financial companies falls within the scope of the corporation's duties, a special exemption was granted.

Additionally, the regulatory improvement request from Kakao Pay was accepted, and the mobile postpaid transportation card service, previously designated as an innovative financial service, will be institutionalized as a small-amount postpaid payment service (BNPL) by revising the Enforcement Decree of the Electronic Financial Transactions Act so that it can be provided without regulatory exemptions.

Furthermore, the designation change requests from Casa Korea and four trust companies were accepted, allowing changes to the business structure related to real estate fractional investment services operated by the applicant companies. In addition to the existing business structure, Casa Korea (including subsidiaries) will add a business structure in which it directly pre-purchases trust target real estate and then enters into trust contracts with trust companies to issue beneficiary certificates.

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