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Finance

Toss sets up online lending unit but conflict of interest debate persists

Viva Republica, operator of Toss, has set up a subsidiary to enter the online investment-linked finance business and is preparing to apply for registration with the Financial Services Commission. The online lending industry warns that if a large loan comparison platform also supplies products, conflicts of interest and fair competition issues may arise. The issue was raised during parliamentary audits. Toss says separating the business into a separate entity and applying the same standards will reduce conflicts.

Finance

KakaoBank, Toss Bank team up with Seoul police to prevent youth cyber gambling

KakaoBank and Toss Bank will work with the Seoul Metropolitan Police Agency to build a prevention system that blocks suspected youth cyber-gambling transfers at the remittance stage. The system links gambling risk information confirmed by police with banks’ risk management systems to issue warnings and restrict transfers during financial transactions, and connects users to counselling and treatment and recovery support. The three parties also plan to share suspicious account information and provide guidance through mobile apps.

AI & Enterprise

Kaohsiung puts AI eyes on entire city to spot fires, flooding and potholes first

Kaohsiung city in Taiwan has disclosed early results from an urban AI governance system that detects flooding, traffic congestion, road damage and environmental anomalies and relays alerts to relevant departments. The city is building the system under its “Kaohsiung AI Lighthouse” project with partners including NVIDIA. It uses a vision-language model and Nvidia’s Cosmos Reason 2 to interpret images and infer causes, with results sent through a smart governance platform.