South Korea's Financial Services Commission is launching a private-sector expert advisory system to respond to high-performance artificial intelligence security threats.

The commission said on Sunday it launched a "private technical advisory panel" and held its first meeting with officials from the Financial Supervisory Service and the Financial Security Institute.

The panel is a follow-up measure to the "response plan for security threats in the financial sector related to high-performance AI" announced on May 26. It was set up to reflect expert advice in AI, security and institutional frameworks in policy as the possibility of cyber attacks using high-performance AI grows.

The private technical advisory panel consists of 7 experts, including 4 from academia and 3 from the legal profession. It will check expected risks related to high-performance AI security threats and review institutional measures needed for the financial sector to build effective security systems.

It will provide policy advice, focusing on response directions for the financial sector and ways to advance security frameworks in connection with high-performance AI security threats such as Mithos.

It will also conduct detailed reviews related to easing network segmentation regulations. The panel plans to examine detailed measures for emergency easing of network segmentation for the use of AI for security purposes, key items that must be managed in AI testing processes, and alternative security technologies that could be used if network segmentation rules are eased.

It will also assess financial companies' level of preparedness. The panel will offer expert opinions on what is needed, including internal controls, risk management and technical supplements, so the financial sector can safely proceed with AI testing for security purposes.

The commission plans to use the panel to improve the effectiveness of policies responding to high-performance AI threats and to support the financial sector in building AI-based security frameworks.

You Young-jun (유영준), director general for digital finance policy at the commission, said, "To respond effectively to high-performance AI security threats, advice from people with field experience and expertise in relevant areas is urgently needed." He added, "As AI technology development and the patterns of cyber threats are changing rapidly, we will carefully develop policies so the financial sector can build AI-based security frameworks and accelerate AX."