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Fintech

MyData market to expand as fintech eyes AI loans and finance groups focus on data sharing

Korea’s Financial Services Commission plans to expand MyData beyond individuals to include sole proprietors and small merchants, and to introduce a “My AI Agent” that can carry out financial actions on users’ instructions. The overhaul would integrate financial, commercial and public data for sole proprietors, including sales and tax information. Fintech firms are looking at AI-driven loan execution, while financial groups are focusing on sharing personal credit data among affiliates under revised rules.

Telecommunications & Media

Broadcast media commission, interior ministry and gender equality ministry sign AI cooperation deal on deepfake sex crimes

The Broadcast Media Communications Commission, the Ministry of the Interior and Safety and the Ministry of Gender Equality and Family signed an AI technology cooperation agreement on June 25 to respond to deepfake sex crimes. The agencies will share an AI deepfake detection and analysis model developed with the National Forensic Service and use it for detecting, removing and blocking harmful videos and for victim protection. They also agreed to cooperate on security measures to prevent secondary harm.

Telecommunications & Media

Audiovisual Media Services Bill tabled, tougher rules on big YouTuber commerce

South Korea has formally tabled an Audiovisual Media Services Bill to regulate large YouTubers, broadening the scope from a draft released earlier this year by a parliamentary task force. The bill sets reporting requirements based on both subscriber counts and income, with thresholds to be set by presidential decree. It also adds a cooperation duty for platforms. It expands restrictions to ban sales of certain items and includes fines of up to 30 million won for violations.