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AI & Enterprise

Government pledge to check 1,650 IT systems left private firms to self-audit

South Korea\'s government said last year it would inspect security vulnerabilities in 1,650 IT systems, but did not separately verify the self-check results submitted by private companies, data showed. The Ministry of Science and ICT collected only documents confirming whether checks were conducted and did not receive details of vulnerabilities found. Lawmaker Lee Jeong-heon said some firms that reported completing checks later had personal data leaks or reported incidents to KISA.

Games & Commerce

Musinsa to early settle 130 billion won in partner payments ahead of Chuseok

Musinsa will pay settlement funds early to ease cash-flow burdens for brands on its platform ahead of the Chuseok holiday. The company will execute early settlements worth 130 billion won for more than 10,000 partner firms selling through the Musinsa and 29CM online stores. Purchases confirmed from Sept. 1 to 20 will be paid on Sept. 22, instead of the usual payment on the 10th of the following month.

Finance

Korea online-only banks near 60 million customers as focus shifts from scale to profitability

South Korea’s three online-only banks have more than 58 million customers and are nearing 60 million, helped by mobile-based services. Customer growth has not automatically translated into stable profitability, and the key second-half task is diversifying revenue. KakaoBank, K Bank and Toss Bank are expanding products, partnerships and new customer segments. They also face pressure to sustain lending to mid- to low-credit borrowers while managing asset quality and non-interest income.