□ The government prepared and announced on May 22 (Tue), “Foreign Service Innovation Plan through Convergence, Non-face-to-face Expansion and Competition Promotion”.
ㅇ This measure focused on achieving qualitative growth of innovation by promoting cooperation and competition among foreign exchange service providers and alleviating regulatory uncertainties related to innovative attempts.
□ Through this, the creation of new markets and the launch of new services will be promoted, and the effect of supporting the acti
vation of related industries such as tourism is expected.
ㅇ In addition, new profit opportunities are expanding to existing foreign exchange service providers such as financial companies and fintech companies, as well as small business owners who collaborate with them.
ㅇ It is expected that the convenience of users of foreign exchange services will be improved by reducing service costs and fees, and improving access to time and places.
□ The plan is to be implemented promptly this year to create representative convergence and non-face-to-face innovation cases and to increase public awareness.
ㅇ The interpretation of votes is applied immediately, and the revision of the enforcement ordinances and regulations is completed by September with follow-up measures*.
* Establishment of standard contracts for commission, trust, and brokerage, prompt confirmation of new business regulations, establishment of operating guidelines for exemption system, and computerization system for system operation
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