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Finance

Household loans jump 9.3 trillion won in a month as regulators trigger emergency management

Household loans across South Korea’s financial sector rose 9.3 trillion won in May, sharply above April’s increase and a year earlier. Mortgage lending growth slowed, but other loans, including credit loans, swung to an increase and drove the overall rise. Regulators held a debt monitoring meeting and plan weekly checks on firms that miss management targets. Banks will pursue voluntary measures such as cutting new credit loan limits for high earners.

AI & Enterprise

Data key to AI shift as South Korea government pushes to secure high-quality AI data

South Korea will speed up efforts to secure high-quality data to prepare for the artificial intelligence era, building data needed by the private sector and setting up a \"data highway\" linking public and private datasets. The government will expand access to public data, create sector-specific datasets and build \"data spaces\" to promote sharing. It also plans legal and institutional revisions covering personal information, healthcare data and copyrights.

AI & Enterprise

Deepfake reports top 10,000 ahead of local elections, government steps up response

South Korea has received more than 10,000 requests to delete posts suspected of violating election rules by using deepfakes, a week before nationwide local elections. The Interior and Safety Ministry held an inter-agency working meeting on May 28 led by Vice Minister Kim Min-jae. Police said 921 people had been caught by May 27 for suspected black propaganda such as false or fake news. Authorities said they are working with regulators and the election commission on detection, deletion, complaints and investigations.