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Four startups - Lendit, Lunit, Jobis & Villains and Travel Wallet - as well as Hyundai Marine & Fire Insurance jointly formed the U-Bank Consortium earlier this week, aiming to become the country s fourth internet-only bank. So far, there are three internet-only banks in Korea: Kbank, KakaoBank and Toss Bank. ....
The Financial Services Commission (FSC), the country s top financial regulator, is pushing for a stronger disclosure obligation in the corporate mergers and acquisitions (M&A) process, aiming to better protect and enhance general shareholders rights. The financial authority also plans to impose expanded responsibilities to a corporate board to ensure more transparency in their decision-making process on M&A deals. ....
As massive losses are expected from equity-linked securities (ELS) tied to the performance of the Hang Seng China Enterprises Index (HSCEI), commercial banks are either halting or considering the halting of ELS product sales consecutively. ....
From the second half of this year, a company will face stricter disclosure obligations on its handling of treasury shares, ranging from the acquisition and holding to disposal, the country s top financial regulator announced Tuesday. ....