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.

South Korea\'s Financial Services Commission\'s mid-rate livelihood stability loan, introduced to support living expenses for mid- and low-credit borrowers, is spreading mainly among non-bank lenders. The product was first launched by six savings banks and has since been rolled out by additional savings banks and capital firms. Major commercial banks have not launched it separately and say plans remain undecided, though they have introduced their own mid-rate and inclusive finance products. Regulators are expanding household-loan volume management incentives for mid-rate lending, which could boost supply.