S. Korea Says Easing Financial Network Separation Rules on Track Amid AI Threats
South Korea is moving smoothly to ease financial network separation rules for AI security, with 75 firms applying for second-round tests.
The Financial Services Commission earlier announced it would review plans to allow AI use for security purposes by easing the network separation requirement. Financial firms in the country are currently required to keep internal network systems separate from external networks to counter cyber threats such as hacking.
The regulator said high-end AI models such as Mythos have emerged as new types of major security threats, increasing the need for financial firms to use AI technologies for security.
According to the FSC, 75 financial firms applied for the second round of tests, compared with 49 in the first round. Fifteen firms will be selected after their proposed measures are reviewed. The firms are required to draw up measures to replace network separation in ways that better detect and close network security loopholes.
The FSC said it will disclose details of a third round of tests after reviewing the results of the earlier rounds.