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Finance

MyData market expands as Korea faces impact of consecutive base rate hikes

Korea\'s financial MyData service is set to expand beyond individuals to sole proprietors and small merchants, evolving from simple data checks to executing financial tasks. The Financial Services Commission plans to broaden the right to request transmission of credit information and to introduce a \"My AI agent\". Separately, the Bank of Korea has raised its base rate for a second straight month, adding to upward pressure on loan rates and borrowers\' interest burdens.

AI & Enterprise

Infinic, Asiana IDT partner on AI video analysis-based industrial safety solution

Infinic said on Aug. 28 it signed a memorandum of understanding with Asiana IDT to cooperate on an industrial safety AI solution business. The companies plan to build an AI-based solution that links on-site risk detection with follow-up safety management tasks. They will connect Infinic\'s AURON-i video analytics with Asiana IDT\'s Plan2Do platform to detect abnormal situations and record risk factors and mitigation measures on a dashboard.

Finance

KB Financial expands industrial safety support for 446 SMEs in second phase

KB Financial Group has completed the first phase of its programme to help small and medium-sized companies prevent industrial accidents and is moving to recruit participants for a second phase with the Korea SMEs and Startups Agency. The initiative provides tailored safety solutions for SMEs that face difficulty building safety infrastructure due to cost burdens and a lack of safety personnel. KB Financial will fully fund the 7 billion won budget.