South Korea will start blocking financial transactions the day after a death report from September 11. Yonhap reported Sunday that the new system will cover 4,890 financial companies across the country's financial sector.
The interior ministry will share death records daily instead of the monthly updates some institutions previously received. Financial companies will check those records before transactions and automatically block accounts without a separate family request.
Deposits and specified emergency withdrawals remain exceptions to the transaction block. KB Financial Group Inc. (105560): The company's market capitalisation was ₩61 trillion at Friday's close.
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| Symbol | Last Price |
|---|---|
| 105560KB Financial Group Inc. | ₩172,000 -3.3% |