South Korea's Financial Services Commission eased fintech investment guidelines, making it easier for licensed financial institutions to invest in fintech companies.
The regulator will change the scope of fintech permitted for investment to a negative list from a positive list, allowing financial institutions to invest in any area of fintech unless specifically prohibited, according to a Sept. 4 release.
Currently, the permitted areas of fintech include e-finance, financial computing, credit information and financial services platforms.
Furthermore, the guidelines provide waivers from regulatory sanctions, as well as other leniency measures, in connection with financial institutions' fintech investment failures.
The guidelines will be implemented on a tentative basis for two years from October, pending amendments of related laws.
