South Korea media commission says Meta's youth protection changes should apply globally

South Korea's media commission, the Korea Media and Communications Commission (KMCC), has stated that social media providers must take greater responsibility to protect minors. According to the Economic Times Tech, the KMCC noted that seven bills aimed at strengthening youth protection on social networking platforms are pending in South Korea's parliament. The commission also suggested that Meta's youth protection changes should apply globally.

In a separate development, South Korea's central bank, the Bank of Korea, has raised interest rates for the second time in a row, from 2.75% to 3.0%, as reported by the Straits Times Business and Free Malaysia Today. The bank cited strong economic growth and elevated inflation, driven by higher energy costs, as reasons for the rate hike. The bank also revised its economic growth forecasts for this year and next year upwards to 3.3% and 2.9%, respectively.

The rate hike was widely expected, and the bank's decision was seen as a preemptive measure to prevent inflationary pressures from becoming widespread. As reported by The Business Times - Companies & Markets, the rate hike had a limited impact on the stock market, with South Korea's Kospi rising 1.5% after the announcement.

Brief written by urgent.news from Economic Times Tech, Straits Times Business, Free Malaysia Today, The Business Times - Companies & Markets — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.