Regulatory Alerts2025-05-15 | 84582FSC Proposes Increasing Maximum Deposit Protection Coverage to KRW100 Million
The Financial Services Commission has proposed a legislative revision to raise the maximum deposit protection coverage from KRW50 million to KRW100 million, effective September 1, 2025. This change applies to banks, savings banks, and mutual finance institutions, aligning domestic standards with major overseas countries to strengthen depositor confidence and reduce the need to spread savings across multiple entities. The FSC established a taskforce to determine the implementation date, selecting September to mitigate market volatility and allow financial institutions sufficient preparation time for the increased insured deposit volume.
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