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Finance

IBK Industrial Bank of Korea expands public MyData to corporate deposit services

IBK Industrial Bank of Korea is expanding the use of public MyData so it can electronically verify documents needed for corporate customers’ financial transactions. After first applying the service to corporate lending, it will also introduce it to deposit-taking services such as deposits. The bank said it is the first in the financial sector to apply the Interior Ministry’s corporate public MyData service to corporate deposit operations.

AI & Enterprise

NH Nonghyup Bank to introduce AI financial secretary in December to support wealth management and jeonse loans

NH Nonghyup Bank is starting development of an AI financial secretary and plans to introduce the service on its mobile banking platform in December, then expand it to face-to-face consultations at branches next year. The bank said it held a project kickoff briefing with its AI-focused subsidiary AgileSoda to build a customer-facing AI agent. Planned functions include wealth management, jeonse loan support and consumer protection information.

Finance

Financial sector hacking spreads, delays gain support for digital asset tax postponement

A string of hacking incidents in South Korea’s financial sector has led to confirmed personal data leaks at savings banks and mutual finance groups, prompting authorities to step up inspections and security requirements. Banks are moving to raise cybersecurity spending and expand fraud prevention systems using AI. Market volatility and a steep stock selloff also drew a policy response. Political debate intensified over postponing digital asset taxation and regulating exchange shareholders.