The South Korea Financial Services Commission has designated eight non-holding financial groups for 2026 under the Act on the Supervision of Financial Conglomerates. The groups are Samsung, Hanwha, Mirae Asset, Kyobo, Hyundai Motor, DB, Daou Kiwoom and Toss. Toss was newly added this year as the first big tech company on the list. The designation brings the groups under the supervisory regime for non-holding financial conglomerates, which is intended to manage risk contagion and concentration across groups. They must appoint a financial business entity to represent the group and report that selection to the Financial Supervisory Service, conduct periodic group-wide risk inspections, establish and follow internal control and risk management policies, and disclose material information needed for consumer protection while reporting to the authorities. They must also calculate a capital adequacy ratio that reflects risk-weighted capital based on the financial authorities' risk assessment, and will be subject to a periodic assessment of risk and risk management every three years. As an immediate next step, each designated group must choose its representative financial business entity and report it to the Financial Supervisory Service.
South Korea Financial Supervisory Service2026-07-16
South Korea Financial Services Commission designates eight non-holding financial groups for 2026, adds Toss as first big tech group
The South Korea Financial Services Commission designated eight non-holding financial groups for 2026 under the financial conglomerates regime. The list includes Samsung, Hanwha, Mirae Asset, Kyobo, Hyundai Motor, DB, Daou Kiwoom and newly added Toss, the first big tech group designated. The groups must appoint a representative entity, manage and disclose group-wide risks, meet capital adequacy requirements and undergo periodic supervisory assessments.