Search results for Digital Finance Safety Act
Finance
Kim Byoung-hwan says plan to fully lift network separation rules will be announced soon
Kim Byoung-hwan (김병환), chairman of South Korea\'s Financial Services Commission, said he will soon flesh out and announce a plan to fully lift network separation for financial companies with sufficient AI and security capabilities. He said a closed security system centred on network separation has limits as AI-based cyber attacks become a reality. The commission has eased network separation rules since June for AI security tests and plans more flexibility, while also pursuing tougher accountability for hacking incidents and new legislation.
Finance
Middle East-led oil and currency shock raises uncertainty in financial markets
South Korea\'s financial markets are seeing sharp volatility as a Middle East-driven oil shock sends the KOSPI plunging and lifts uncertainty. Concerns over prolonged high oil prices have pushed the won-dollar exchange rate up to 1,500 won, widening stock-market swings and prompting warnings about overheated leverage as some credit trading is halted. Regulators, banks and brokerages are stepping up risk management, while authorities also move to crack down on unfair trading and strengthen preventive supervision.
Finance
KB Financial holds group information security council to address AI-era risks
KB Financial Group said it held its first-quarter Group Information Security Council to build a safe financial environment, attended by information security executives from 11 affiliates and holding company compliance officer Choi Seok-moon. The council discussed key security tasks such as a mid- to long-term information security master plan, cybersecurity centre operations and an integrated security monitoring system. It also checked compliance measures for new laws and prepared group guidelines for emerging threats.