| Mobile Web

Search results for mydata

Finance

PG firms team up to block fraudulent payments, rate hike fallout in focus

South Korea\'s fintech sector is expanding payment infrastructure while strengthening security and user protection. The Financial Supervisory Service and the Korea Fintech Industry Association launched a consultative body with major payment gateway firms to curb suspicious transactions. The Bank of Korea raised its policy rate to 2.75 percent, the first hike in 3.5 years, prompting tighter household lending management. Authorities also plan higher deposits and trading units for single-stock leveraged ETFs.

AI & Enterprise

PIPC boosts sanction effectiveness, gains momentum in shift to prevention-focused system

South Korea\'s Personal Information Protection Commission said it shared key first-half results and plans, highlighting stronger economic penalties tied to major personal data leaks. It said total fines rose to 608.4 billion won in the first half of 2026 from 167.8 billion won in 2025 and 61.2 billion won in 2024, naming firms and institutions that received major sanctions. The commission also outlined new punitive fine rules and expanded preventive inspections and mydata download rights.

Finance

KakaoPay joins NH NongHyup Bank alternative credit scoring model development

KakaoPay will join a NH NongHyup Bank-led consortium to develop an alternative credit scoring model using MyData and payment and remittance information. The companies signed a multilateral memorandum of understanding on July 15 at NH NongHyup Bank\'s new building in Seoul, KakaoPay said on Wednesday. Participants will combine non-financial data, credit scoring modelling capabilities and AI technology to build a joint model for use in financial products.