Parliament rejects revision bill on internet-only banks
SEOUL, March 5 (Yonhap) -- The National Assembly on Thursday voted down a bill intended to loosen the eligibility requirement for the largest shareholder of an internet-only bank.
A revision of the Act on Special Cases Concerning Establishment and Operation of Internet-only Banks failed to pass in parliament, as 82 of 184 lawmakers on hand in the plenary session voted against it. Only 75 lawmakers voted for the bill while 27 abstained.
The revision bill calls for removing a record of antitrust and taxation law violations from the eligibility requirement for the largest shareholder of an internet-only bank. Its passage could have paved the way for telecom giant KT Corp. to become the largest shareholder of K-Bank, an internet-only bank launched in 2017. KT has a record of violating the fair trade law.
The current law allows information technology firms to hold as much as a 34-percent stake in an internet-only bank. But the law prohibits a shareholder of an internet-only bank from raising a stake in the bank if the shareholder was punished for violating an antitrust law.
A lawmaker of the main opposition United Future Party spoke in favor of the revision bill, saying it would help upgrade the competitiveness of the nation's financial industry.
But many lawmakers from the ruling Democratic Party and minor parties opposed the revision bill, calling it a favor to KT Corp.
ycm@yna.co.kr
(END)
-
(URGENT) Russian, Chinese warplanes enter S. Korea's air defense zone without notice: JCS
-
BTS to meet Biden at White House to discuss anti-Asian hate crimes
-
Premier League Golden Boot winner Son Heung-min receives hero's welcome home
-
Multiple Russian, Chinese warplanes enter KADIZ without notice: JCS
-
Hyundai Motor to invest US$5 bln in U.S. for robotics, autonomous driving development
-
(5th LD) Yoon, Biden agree to expand joint military exercises to cope with N.K. threats
-
(LEAD) Multiple Russian, Chinese warplanes enter KADIZ without notice: JCS
-
With historic Golden Boot, Son Heung-min cements case as greatest S. Korean footballer ever
-
(URGENT) Russian, Chinese warplanes enter S. Korea's air defense zone without notice: JCS
-
(LEAD) Supreme Court rules against peak wage system
-
BTS to meet Biden at White House to discuss anti-Asian hate crimes
-
S. Korean volunteer fighter in Ukraine returning home
-
(LEAD) Supreme Court rules against peak wage system
-
S. Korean volunteer fighter in Ukraine returns home with injuries
-
(LEAD) Yoon picks women for last remaining 2 Cabinet ministers