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Photo = Yonhap news |
[Alpha Biz= Paul Lee] The Financial Supervisory Service (FSS) and the Korea Deposit Insurance Corporation (KDIC) are set to conduct a joint inspection of KakaoBank for the first time in the first half of this year.
According to sources from the financial sector on Thursday, the FSS and KDIC are planning to begin the joint inspection of KakaoBank in June.
This will be the first time both organizations have conducted a joint inspection of an internet-only bank.
The joint inspection was initiated at the request of the KDIC. The KDIC has expressed concern about the potential risks of digital bank runs following events such as the collapse of Silicon Valley Bank (SVB) in the United States.
The inspection will focus on examining the liquidity and risk management practices of internet-only banks.
The FSS plans to review KakaoBank’s asset soundness, liquidity, and information technology (IT) risks in a comprehensive manner.
This marks the first time since 2021 that the FSS will conduct a regular inspection of KakaoBank, after a gap of four years.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
