FSC Accepts Applications for Third Quarter Designation of Innovative Financial Services

Applications Accepted Until September 30
Free Consulting Provided

The Financial Services Commission announced on the 13th that it is accepting applications for the regular designation of innovative financial services for the third quarter of this year.

Companies wishing to have their services designated as innovative financial services can submit their applications through the Financial Regulatory Sandbox website by September 30.

The Financial Services Commission and the Korea Fintech Support Center will provide free, step-by-step consulting for prospective applicants who encounter difficulties with legal interpretations or in preparing the application documents during the process. Applicant companies can also refer to the Financial Regulatory Sandbox website for related information, including previously designated cases and frequently asked questions (FAQ) that address common inquiries.

The Financial Services Commission will review the submitted applications within the statutory review period, which is up to 120 days, through the Innovative Financial Services Review Committee. The final decision on whether to grant designation will then be made at a regular meeting of the Financial Services Commission.

Applicant companies can check the review stage and schedule of their service application through the Financial Regulatory Sandbox website.

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