South Korea reviews broader deposit insurance coverage, including crypto assets

South Korea’s Korea Deposit Insurance Corp. is seeking to extend deposit protection to defined benefit retirement pensions and temporarily large deposits exceeding 100 million won, such as home sale proceeds, Money Today reported. The agency is also reviewing a protection system based on the actual owner of funds rather than the account holder’s name, along with measures to protect digital assets. The Korea Deposit Insurance Corp. held the launch ceremony and first meeting of the Financial Consumer Protection Committee on Nov. 3, where it reviewed a roadmap for promoting financial contract holder protection that includes those measures, according to the report.