A. Scope of the credit information provider/user (Article 2-2 and Article 3)
Include gender, nationality, etc., in credit information and the Korea Financial Telecommunications and Clearings Institute (KFTC) in the scope of the credit information provider/user.
B. Service method of corporate credit inquiry business and MyData business (Article 3-2 and Article 3-3)
Clarify the service method of corporate credit inquiry business and MyData business, such as excluding the method, etc., disclosing to the public through disclosure, etc., from corporate credit inquiry business and excluding the KFTC's open banking service from MyData business.
C. Licensing procedure for credit information business, MyData business, and claims collection business (Article 5)
Specify the licensing procedure for credit information business, MyData business, and claims collection business.
D. Financial information processing by credit bureaus (Article 5-2)
Allow a credit bureau to process credit information related to financial transactions when it falls under a credit evaluation model and concurrently run business.
E. Information processing/information and communication equipment requirements for credit bureau business, individual business operator credit evaluation business, corporate credit inquiry business, and MyData business (Article 6)
Stipulate the requirements for information processing/information and communication facilities that a person who intends to conduct credit bureau business, individual business operator credit evaluation business, corporate credit inquiry business, or MyData business.
F. Major shareholder requirements (Article 7)
Stipulate the requirements for a major shareholder of a person who intends to get a license of credit information business, MyData business, or claims collection business and the requirements for a person who intends to become a major shareholder by acquiring and taking over shares issued by a credit information company, MyData service company, or claims collection company.
G. Report of reduction in capital or basic property (Article 9)
Stipulate the reporting procedure when the capital or basic property of a credit information company, MyData service company, or claims collection company decreases.
H. Report of minor matters (Article 10)
Stipulate the reporting procedure when minor matters such as changes in the representatives and executives of a credit information company, MyData service company, or claims collection company occur.
I. Approval of changes to a major shareholder and performance of the approval duty of changes to a major shareholder (Article 11 and Article 11-2)
Stipulate matters necessary for the approval of changes, such as documents to be submitted by the major shareholder of a credit information company, MyData service company, or claims collection company and specific criteria for the major shareholder requirements, and allow the Governor of the Financial Supervisory Service to collect opinions of stakeholders, etc., in relation to the review of approval for changes to a major shareholder.
J. Largest shareholder qualification review (Article 11-3)
Specify measures that the Financial Services Commission may order companies with respect to the qualification review of the largest shareholders of personal credit evaluation companies and individual business operator credit evaluation companies, excluding credit bureaus and that the Governor of Financial Supervisory Service shall determine other matters necessary for the review of requirements for maintaining the eligibility.
K. Detailed requirements for the approval of the transfer, take-over, etc., of credit information business, etc. (Article 11-4)
Specify detailed requirements for the approval of the transfer, take-over, etc., of credit information business.
L. Report, etc., of concurrently run business (Article 13)
Stipulate that if a credit information company, MyData service company, or claims collection company reports a concurrently run business, the Governor of the Financial Supervisory Service shall review whether the requirements are met and accept it.
M. Concurrently run business and incidental business (Article 13-3 and Article 13-4)
Stipulate the concurrently run business and incidental business of a credit information company, MyData service company, or claims collection company.
N. Prohibition of concurrent positions held by executives (Article 14)
Stipulate criteria, etc., for reviewing whether to approve the case where an application for the approval of concurrent positions held by executives of a credit information company, MyData service company, or claims collection company is made.
