Financial Services Commission Begins Regular Applications for Q4 Innovative Financial Services Designation

The Financial Services Commission announced on the 9th that it will open the regular application period for designation of innovative financial services for the fourth quarter of this year from the 9th to the 31st.

Companies wishing to apply for designation of innovative financial services can check the application method announced by the FSC, prepare the required documents, and submit the application form for designation of innovative financial services on the Financial Regulatory Sandbox website within the regular application period.

The FSC plans to decide on the designation of innovative financial services through the Innovative Finance Review Committee within the statutory review period of up to 120 days for the applications received during this application period.

The next regular application period is expected to be two weeks in March next year (tentatively March 17?28). Companies preparing to apply but having difficulties in completing the application form can request consulting support in advance from the Korea Fintech Support Center to receive assistance.