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Finance

PG firms team up to block fraudulent payments, rate hike fallout in focus

South Korea\'s fintech sector is expanding payment infrastructure while strengthening security and user protection. The Financial Supervisory Service and the Korea Fintech Industry Association launched a consultative body with major payment gateway firms to curb suspicious transactions. The Bank of Korea raised its policy rate to 2.75 percent, the first hike in 3.5 years, prompting tighter household lending management. Authorities also plan higher deposits and trading units for single-stock leveraged ETFs.

AI & Enterprise

National AI Strategy Committee releases nine months of results in action plan and budget

South Korea\'s National Artificial Intelligence Strategy Committee on Sunday released key results since its launch in September. It said it became a statutory body in January after the AI Basic Act took effect and now runs 10 subcommittees, two special committees and a task force. The committee cited work including a government-wide AI action plan, responses to national issues, integrated disclosure of government AI budgets and deeper AI cooperation with the UAE.

AI & Enterprise

National AI Strategy Committee releases 8 months of results, discloses action plan and budget

South Korea\'s National AI Strategy Committee said it released major results from its first 100 days after launching in September. It said it confirmed the \'Korea AI Action Plan\' in February after holding about 100 meetings and collecting 559 public opinions. It said it agreed four key tasks related to using works for AI training, prepared measures on government AI infrastructure and security, and disclosed integrated budget data for 741 AI projects worth 9.9 trillion won across 41 ministries.