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Finance

Shinhan Bank offers up to 1 million points to travel debit card customers

Shinhan Bank is running summer vacation promotions for customers who newly issue its travel-focused debit cards and make payments in Korea and overseas. Depending on the card and conditions, customers can receive gift vouchers and be entered into draws for up to 1 million My Shinhan Points. The events run through Sept. 12. The bank will also offer a service from July 30 allowing direct transfers of foreign currency holdings to its SOL Travel foreign currency deposit.

Telecommunications & Media

Snowman phased shutdown; Sejong Telecom launches customer switching programme

Sejong Telecom is supporting existing users of its budget mobile service Snowman in switching to Gogomobile as it pursues a phased shutdown of Snowman. Sejong Telecom and MVNO Gogofactory said they will run a “Snowman x Gogomobile recommended plan” promotion through Aug. 2. Users can keep their phone numbers and, if they want, keep their existing network. The promotion includes premium and value unlimited plans and additional partner benefits.

Finance

Financial sector \'digital risks\' rise, putting IT controls to the test

As financial companies expand use of AI, South Korean regulators are sharpening oversight of security and internal controls. The Financial Services Commission plans to exempt sanctions for minor system disruptions during AI security tests or emergency patches if conditions are met, while requiring swift recovery and consumer protection. The Financial Supervisory Service will intensively inspect IT basic controls in the second half and urged banks to build AI internal-control systems. A Woori Bank data leak and broader market and industry moves have also highlighted digital risks.