Financial Authorities Hold the 10th "Visiting Financial Regulation Sandbox Meeting"

Episode 11 is a Special Feature on Blockchain Technology

On the 28th, the Financial Services Commission, the Financial Supervisory Service, and the Korea Fintech Support Center held the 10th "Visiting Financial Regulation Sandbox" meeting this year at DreamPlus Gangnam Center in Seocho-gu, Seoul.

Four companies (Gajilab, Design & Practice, DeepSearch, SensStone) that are either residing in the incubation space provided by Hanwha Life DreamPlus or have participated in the incubation program attended this meeting. The participating companies are offering or preparing various innovative financial services, including personalized wellness product and content recommendation services for insurance companies' healthcare programs, online-based M&A brokerage services, one-time authentication code (OTAC) technology applicable to various financial services, and a mobility fintech platform that allows non-face-to-face confirmation of lease rent estimates, screening approvals, and contract agreements all at once.

The companies attending the meeting inquired about regulatory compliance and exemption possibilities, as well as additional support needed to launch their prepared services in the market.

The Financial Services Commission and others plan to provide follow-up measures such as offering answers after internal review if questions raised during the meeting are not fully resolved on-site. According to the Financial Services Commission, the next meeting will focus on blockchain technology next month.