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AI & Enterprise

Calls grow to expand broadcasting development fund into audiovisual media development fund including OTT

Debate over restructuring South Korea’s Broadcasting and Communications Development Fund has stalled for years, as some now call for expanding it into an “audiovisual media development fund” that also covers OTT services and platforms. Seoul National University professor Hong Jong-yoon proposed broadening contributors and using the money for regional and smaller media support and content diversity. Separately, calls persist to merge the fund with the Information and Communications Promotion Fund, a move repeatedly recommended by government evaluators.

Finance

Financial sector hit by hacking, security vulnerabilities exposed across the board

South Korea\'s financial sector faced a security emergency after a string of hacks and personal data leaks. Shinhan Bank had customer information for about 25,000 people leaked, while KB Kookmin Bank and Hana Bank confirmed leaks involving 119 and 89 customers. Regulators said related IP addresses linked to the same attacker were found across seven firms, with external-facing services used as attack routes. Authorities are investigating possible automated attacks using AI tools and ordered an industrywide security review.

AI & Enterprise

K-AI strategy under scrutiny as battle heats up over decision AI models

Government AI policy is expected to be a key issue during this year’s state audit running from Oct. 6 to Oct. 30, with attention on the independently developed AI foundation model project, Dokpamo, and the details of a separate frontier AI development initiative. The decision AI model market has quickly shifted into a multi-player competition. The article also rounds up moves by OpenAI, Google, Meta, Microsoft, Nvidia, IBM and others, along with investments and regulatory concerns.