On the 11th, officials are taking a commemorative photo at the launch ceremony of the Online Investment-Linked Finance Association held at Fintech Lab in Yeouido, Seoul. From the left: Yongtae Kim, Director of the Financial Supervisory Service; Byung-hoon Lim, Auditor of the Online Investment-Linked Finance Association; Chaeyul Lim, Chairman of the Online Investment-Linked Finance Association; Hyojin Lee, CEO of 8Percent; Daeyoon Kim, CEO of PeopleFund Company; Seongjun Kim, CEO of Lendit. Photo by Online Investment-Linked Finance Association
[Asia Economy Reporter Song Seung-seop] The Online Investment-Linked Finance Association (OnTu Association), the first association organization and statutory association in the online investment-linked finance industry, has been launched.
On the 11th, the establishment promotion team of the Online Investment-Linked Finance Association held the inaugural general meeting at Fintech Lab in Yeouido, Seoul. Representatives of 8percent, Lendit, and PeopleFund, which were registered as online investment-linked finance operators the day before, participated as founding promoters.
The first president was appointed as Lim Chae-yul, former director of the Financial Supervisory Service. President Lim joined the Bank of Korea in 1990 and entered the Financial Supervisory Service in 1999. He served as director of the Foreign Exchange Supervision Bureau, head of the Credit Information Office, head of the Banking General Team, and head of the Foreign Exchange General Team. The association's board members will be the CEOs of the three companies that participated as founding promoters.
In his greeting, President Lim Chae-yul emphasized, “We will actively promote compliance management in the OnTu finance sector and do our best to protect financial consumers to enhance the trust in the industry,” adding, “We will strive to improve the business environment along with the industry's own innovation efforts.”
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