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Fintech

KB Kookmin Bank launches \'KB Card Sseudam Savings\' offering up to 12.0 percent

KB Kookmin Bank introduced a savings product that offers an interest rate of up to 12.0 percent a year for customers who meet conditions tied to KB Kookmin Card usage and bank transactions. The \'KB Card Sseudam Savings\' is a six-month product with monthly deposits from 10,000 won to 300,000 won. It will sell 100,000 accounts on a first-come, first-served basis. The base rate is 2.0 percent before tax as of Aug. 21.

Finance

Household loan cap raised to 3 percent; scraping to be phased down

South Korea’s financial authorities loosened parts of their household loan management stance by raising this year’s lending growth target to 3 percent from 1.5 percent and planning 47.8 trillion won-plus in housing supply finance support. The move is expected to expand banks’ annual capacity for household loans to around 60 trillion won. Authorities also agreed not to block scraping all at once, opting to phase it down while preparing alternatives such as public MyData.

Telecommunications & Media

Tech platforms step up cleanup as AI spam \'slop\' floods internet

Tech platform companies are stepping up efforts to filter or reduce exposure to low-quality AI-generated content as concerns grow that it is polluting the online information ecosystem. The New York Times reported services from messaging and reviews to archives and dating are acting. Spotify removed 75 million items, LinkedIn added a reporting button and TikTok tested controls and deleted videos. Google removed 130,000 channels, while experts say public fatigue is growing.