Sina Technology News Beijing time on the afternoon of July 13 news, according to Yonhap, South Korea's Financial Committee (hereinafter referred to as the Committee) held a regular meeting on the 13th, Samsung, Han Hua, Future assets (Mirae Asset), Education Insurance, Hyundai MotorAnd DB six groups are designated as financial integrated enterprise groups.

The Law on Supervision of Financial Integrated Enterprise groups, which came into force on the 30th of last month, stipulates that the total assets of the financial subsidiaries of the group exceed 5 trillion won (about 28.2 billion yuan). And groups that operate more than two industries in the credit industry, financial investment industry and insurance industry at the same time are financial integrated enterprise groups. The Committee indicated that the above-mentioned six groups met the legal requirements and therefore made the above decision. The move aims to reduce the risk of non-controlling financial groups in the regulatory corner and protect financial consumers.

In addition, although the total assets of KIWOOM, Youjin, Taiguang, KAKAO and Hyundai are all more than Won5,000bn, their non-mainstream financial institutions have total assets of less than Won5tn, so they are not designated as financial conglomerates.