AI TRENDS | South Korea to Implement Revised Financial AI Guidelines on June 22

South Korea’s Financial Services Commission announced revisions to its “Financial Sector AI Guidelines” on June 18, with the updated rules set to take effect across the financial industry and fintech companies starting June 22. According to Odaily, the guidelines apply to financial firms introducing AI and fintech companies that affect financial transactions, and they set out seven principles: governance, legality, supportiveness, trustworthiness, financial stability, integrity obligations, and security. The government plans to ease certain network-separation security regulations for some financial institutions and to refine rules on consent for personal credit information, data anonymization, and related requirements. It also plans to study liability and authority rules for AI agents, along with a dedicated AI regulatory framework. On June 22, the Financial Supervisory Service is set to release a financial-sector AI risk management framework, and the Korea Financial Security Institute is set to publish AI security guidelines for the financial sector.