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Finance

Finance network separation rules eased, fueling 140 trillion won fintech investment

South Korea\'s financial authorities expanded the scope of eased network separation rules for AI use to secondary financial institutions and electronic financial business operators. The number of firms to be selected rises to as many as 15, and eligibility thresholds are lowered. Selected institutions can use external AI and security SaaS after putting alternative controls in place. Industry expectations are mixed, with some firms cautious. Global fintech investment rose to $103.1 billion in the first half, with focus expected to shift to AI and financial infrastructure.

Finance

Government keeps ISA terms and contribution limits; anti stock price suppression bill to be revisited in parliament

The government will allow taxpayers to carry over unused annual contribution limits for individual savings accounts (ISA) and will remove limits on contract terms, reversing tougher rules proposed in last month’s tax overhaul plan. The Ministry of Economy and Finance said it finalised a tax law revision bill that includes the ISA changes and plans to submit it to parliament by Sept. 3. It also said a proposal dubbed the anti stock price suppression bill will be further discussed during the regular parliamentary session.

Finance

ISA revamp plan under review after reconsideration, compared with advanced financial countries

South Korea\'s government is reviewing whether to scrap or ease limits in its ISA revamp plan, including restrictions on rolling over unused contribution limits and maturity caps for a productive finance ISA. The move follows investor backlash and President Lee Jae-myung\'s order for a full reconsideration. The article compares practices in Japan, Britain and Canada, where tax-advantaged accounts allow long-term use, flexible withdrawals and rollover of unused limits.