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As AI spreads, South Korea sets plan to digitize financial supervision work

( March 17, 2025, 08:17 GMT | Official Statement) -- MLex Summary: South Korea’s financial markets and industry supervisor announced today a three-year project to aggressively introduce AI and other digital technologies in its key operations. Lee Bok-hyun, governor of the Financial Supervisory Service, acknowledged that the long-standing practice of relying mainly on human expertise now faces limitations in effectively dealing with the fast-changing environment. Lee presented four principles for the digital transformation project: financial supervision based on data, digitization of supervisory work processes through automation and the use of artificial intelligence technology, introduction of more digital devices for its employees and increased access to information about its operations. Lee said the digital transformation will benefit all stakeholders, including the supervisory agency, financial companies and financial service consumers. The statement, in Korean, is attached....

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