Name, resident number changes to automatically apply at all financial institutions
A pedestrian walks past a row of ATM machines from Korea's major banks in Seoul, Aug. 16. Yonhap
Name and resident registration number changes made with one financial institution will be automatically applied at all other financial institutions, officials said Monday.
The Regulatory Rationalization Committee said it will seek to revise related regulations in cooperation with the interior ministry, the Financial Services Commission and the Financial Supervisory Service, as changes of names and resident numbers are on the rise amid increasing online data theft.
Currently, those wishing to update their information have to visit every financial institution they have an account with after winning court or administrative approval for such changes.
The committee said it will seek to have financial institutions share information on such changes.
In 2024, a total of 84,290 name changes and 1,225 resident number changes were approved.