"Financial Authorizations and Registrations Now Processed via FSS Website Without Paperwork"

Launch of Eight Financial Business Authorization and Registration Systems
and Three Insurance Registration Systems Starting September 7

The Financial Supervisory Service announced on September 6 that starting from September 7, it will upgrade and operate its system to reduce the paperwork required for eight major financial investment business authorizations and registrations, including the main financial investment business license, as well as three types of insurance-related registrations such as insurance actuary registration. These processes will now be handled through the Financial Supervisory Service's website.

First, the Financial Supervisory Service will launch the 'Online Preliminary Consultation System for Authorization and Registration' covering eight areas, including the main financial investment business license and registrations for new technology, installment financing, and electronic financial business.

Previously, applicants had to submit application documents separately in paper form for preliminary consultation and for the main authorization or registration review. After the improvements, a self-check function will be available when applying for preliminary consultations, and applicants can receive updates via KakaoTalk. Documents submitted for the preliminary consultation can be directly used in the main review process.

The Financial Supervisory Service will also operate the 'Insurance Professional and Insurance Broker Registration System,' which allows online applications for three professions, including insurance actuaries and loss adjusters.

Previously, those applying for new or revised registrations had to send their applications and required documents by registered mail. Going forward, applications for new or revised registrations can be submitted directly through the Financial Supervisory Service’s website. Applicants will be able to check the status online and receive notifications via Alimtalk.

The Financial Supervisory Service expects that because simple and repetitive administrative tasks incidental to the review process will now be automated, applicants will be able to complete their work more quickly and efficiently.

An official from the Financial Supervisory Service stated, "Even after the launch of this new system, we will continue to reduce the burden of paperwork on applicants and expand the range of industries to which the system applies, persistently improving user convenience."

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