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Regulator rejects 2 applications for online banks

Regulator rejects 2 applications for online banks

In an unexpected turn of events, South Korea’s financial regulator on Sunday rejected applications by two consortia to set up the nation’s third and fourth Internet-only banks. One consortium is backed by financial technology firm Viva Republica and the other is led by brokerage Kiwoom Securities. The Financial Services Commission said it accepted a recommendation […]

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