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Telecommunications & Media

Government to mobilise full support for fair elections ahead of June 3 local polls

South Korea\'s government will step up cross-ministry support to curb AI-driven fake news and ensure fair elections, 50 days before the June 3 nationwide local polls. Prime Minister Kim Min-seok chaired a ministerial meeting on election integrity and called fake news a challenge to democracy and a clear crime. Authorities said they have set up an election support situation room, expanded training and enforcement, and will operate dedicated investigative teams.

Crypto

South Korea financial regulators to check crypto exchange user assets every five minutes

South Korea\'s financial authorities will build an always-on system to monitor user assets at digital asset exchanges and sharply strengthen internal controls to financial-institution standards. The steps follow a recent mistaken payment incident at Bithumb and aim to fix structural problems and restore market trust. Regulators will require five-minute balance reconciliations, set automatic trade blocks for large discrepancies, shorten external audit checks to monthly from quarterly and expand disclosures.

Finance

Tighter household debt cap adds double pressure on loans and property market

South Korea\'s financial authorities are tightening overall household debt controls, raising the prospect of wider effects on the property market. Regulators lowered the 2026 target for household loan growth to 1.5 percent from 1.7 percent a year earlier and set a longer-term goal of cutting the household debt ratio to about 80 percent of GDP by 2030. Rules for multi-homeowners\' mortgages will be tightened, while penalties for illegal or improper lending will increase.