Toss Becomes First Big Tech Financial Conglomerate... 41.3 Trillion Won in Assets as a 'Financial Giant'

Eight Financial Groups Including Samsung, Hanwha, and Mirae Asset Designated

Capital Adequacy to Be Managed at Group Level

Toss has become the first among big tech financial groups to be designated as a financial conglomerate. Starting as a mobile simple remittance service and expanding into a comprehensive financial platform encompassing banking, securities, and insurance sales businesses, it will now be subject to group-level supervision and regulation.

On July 15, the Financial Services Commission held its 13th regular meeting and announced that it had designated eight financial groups—including Samsung, Hanwha, Mirae Asset, Kyobo, Hyundai Motor, DB, Daou Kiwoom, and Toss—that met all the requirements under the Act on the Supervision of Financial Conglomerates as financial conglomerates for 2026.

To be designated as a financial conglomerate, a group must operate at least two types of financial businesses among deposit/lending, insurance, and investment, and must have at least one company with a license or registration from the Financial Services Commission. In addition, the total assets of the smallest financial business arm must exceed 5 trillion won.

With this new designation, the Toss Group has become the first big tech group to be subject to the Act on the Supervision of Financial Conglomerates. As of the end of 2025, Toss Group's total assets stand at 41.3 trillion won, with the main business (deposit and lending) totaling 33 trillion won and the non-core business (investment) totaling 7.2 trillion won, meeting the designation requirements. In particular, the fact that the asset size of Toss Securities surpassed 5 trillion won, fueled by the stock market boom, was a key factor behind the designation.

The financial conglomerate system was introduced to allow for integrated management of group-wide financial and management risks, including risk transfer, risk concentration, and internal transactions among affiliates within a financial group. Since the law took effect in June 2021, the Financial Services Commission has designated financial conglomerates annually.

Once designated as a financial conglomerate, the group must manage its capital adequacy separately and maintain a capital ratio of at least 100%. Every year, the financial authorities assess additional group-level risks to calculate the necessary capital amount, and every three years, financial groups are subject to a risk management evaluation by the supervisory authorities.

Additionally, groups are required to regularly disclose and report their ownership and governance structure, internal controls, risk management, internal transactions, and risk concentration to the financial authorities. Any internal transaction exceeding 5 billion won must be approved by the board of directors, and if financial soundness deteriorates, a management improvement plan must be submitted.

An official from the Financial Services Commission stated, "We expect this designation to establish a self-directed risk management system where financial conglomerates recognize and manage group-level risks on their own," adding, "This will also serve as an opportunity to gradually strengthen risk management and supervision at the group level for big tech financial groups."

This content was produced with the assistance of AI translation services.