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Games & Commerce

AXZ changes name to Daum, steps up shift to AI portal

AXZ, the operator of the Daum portal service, said on July 27 it will change its corporate name to Daum. The company approved the change at an extraordinary shareholders meeting held on July 20 to align its corporate identity with its main service and strengthen communication with users and partners. It said service usage and member accounts will remain unchanged. Daum plans to revamp its website and channels and build a next-generation AI-based portal.

Games & Commerce

Naver-Dunamu merger hurdle eases as committee recommends amending enforcement decree

South Korea\'s Presidential Regulatory Reform Committee\'s growth subcommittee reviewed an enforcement decree revision to the Act on Reporting and Using Specified Financial Transaction Information on July 24 and recommended that the Financial Services Commission add an exception to fit-and-proper screening rules for major shareholders of virtual asset service providers. The recommendation could ease regulatory burdens raised during Naver\'s bid to acquire Dunamu. The revised law is set to take effect on Aug. 20.

Fintech

KB Kookmin Bank nominates AI expert Professor Jung Yoon-kyung as outside director

KB Kookmin Bank nominated Jung Yoon-kyung (정윤경), a professor at Sungkyunkwan University, as a new outside director candidate to strengthen expertise in artificial intelligence and digital fields. The nomination follows the resignation of former outside director Moon Soo-bok. The bank said its outside director nomination committee selected Jung after multiple meetings and screening procedures. Jung is expected to be formally appointed after approval at an extraordinary shareholders meeting on July 23.