The South Korea Financial Services Commission approved amendments to the financial conglomerate supervision rules that classify all electronic financial business operators as affiliated financial companies subject to group-level internal control and risk management requirements. The change extends the framework to operators that are not categorized as financial and insurance businesses under the Korean Standard Industrial Classification. The amendments remove differences in regulatory treatment based on industrial classification and seek to prevent regulatory arbitrage. They also bring operational and other risks arising from links between electronic financial businesses and their affiliates within the scope of financial conglomerate oversight.
South Korea Financial Services Commission2026-07-31
South Korea Financial Services Commission brings all electronic financial businesses under financial conglomerate risk controls
The South Korea Financial Services Commission approved rules bringing all electronic financial business operators within financial conglomerate internal control and risk management requirements. The change covers operators outside the financial and insurance category under the Korean Standard Industrial Classification, closing a regulatory gap.