The guidance period for the Personal Debtor Protection Act will be extended by three months to ensure its implementation in the financial sector

News Corporate Finance & M&A General Updates

Date: 15th Jan, 2025 Source: Financial Services Commission Country: South Korea Original Source

Brief

"On "15/01/2025", the "Financial Services Commission" issued an update regarding "The guidance period for the Personal Debtor Protection Act will be extended by three months to ensure its implementation in the financial sector". This decision aims to provide a more realistic timeframe for banks and other financial institutions to prepare and execute the new law, which was initially enforced on '17/10/2024'.

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Financial Services Commission

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The guidance period for the Personal Debtor Protection Act will be extended by three months to ensure its implementation in the financial sector

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The guidance period for the Personal Debtor Protection Act will be extended by three months to ensure its implementation in the financial sector

Brief

Financial Services Commission

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