The National IT Industry Promotion Agency (NIPA) said on July 24 it signed a memorandum of understanding with the Korea Startup Forum on July 23 at Maru360 in Seoul to support innovative growth of AI and ICT startups. The two sides will cooperate on infrastructure to provide public resources based on demand, address regulatory hurdles and difficulties in the field, work on policy cooperation reflecting private-sector views, and support global expansion using overseas hubs and networks.

Use of artificial intelligence in South Korea\'s finance industry is spreading to credit scoring, fraud detection, financial advice and wealth management, but network segregation rules and limited access to AI infrastructure are constraining innovation, speakers said at a forum. Experts urged a shift in regulation from prior permission and approval toward continuous verification and accountability management. Fintech representatives also called for broader participation in rule changes and improved access to up-to-date AI models and infrastructure.