The South Korea Financial Services Commission has opened its third-quarter application round for companies seeking designation of innovative financial services under the financial regulatory sandbox. Applications may be submitted online from Sept. 14 through 6 p.m. on Sept. 30, providing a new intake route for sandbox pilots following recent designations involving alternative credit assessment services. The commission and Korea Fintech Support Center offer free staged assistance covering initial guidance, formal application requirements and substantive designation criteria. A 73-member expert group provides support across legal, patent, accounting, technology and data matters, although substantive expert matching is limited to small and medium-sized fintech companies. Applications will be reviewed by the Innovative Financial Services Review Committee within the statutory review period of up to 120 days, with final designation decisions made at a regular commission meeting.

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