South Korea’s Financial Services Commission (FSC) has announced 20 changes for the new year in financial services and regulations.
 
Starting next year, people can register their new addresses with financial institutions where they have accounts by making the change at one of the institutions. Currently, people have to register changed addresses by visiting each of the institutions or their homepages.
 
The FSC will open a site on its homepage in January so that people can compare all financial instruments presented by financial institutions including banks and savings banks.
 
Furthermore, the nation’s financial regulatory body will also allow crowd funding, which helps small- and middle-sized firms raise funds through the Internet.
 
Starting in April, the online insurance sales site “e-insmarket” will provide a service where people can compare auto insurance rates based on their accident record.