Alphabiz - Mirae Asset Life has once again postponed its ′MyData′ project, citing ongoing issues related to its major shareholders for the past two years.

Mirae Asset Life Insurance

[Alpha Biz= Reporter Kim Sangjin] Mirae Asset Life's entry into the personal credit information management business (MyData) has been in limbo for nearly two years. Although they applied for review this year, issues regarding the suitability of major shareholders have once again hindered their licensing prospects.

MyData services allow for the aggregation and access of consumer information scattered across banks, insurance companies, cards, and even public agencies.

Recently, the Financial Services Commission has once again decided to postpone the approval review of Mirae Asset Life's MyData license. Mirae Asset Life first applied for MyData licensing back in 2022 and has been in a holding pattern ever since.

Financial institutions require regulatory approval to engage in new businesses. This approval process includes a suitability assessment of major shareholders who hold voting rights in the financial institution. If a major shareholder undergoes investigation by judicial authorities, it can lead to a suspension of regulatory reviews for new businesses.

Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)