Fighting AI with AI: Korea to phase out 'network separation' rules for financial firms
Korea’s financial authorities are moving to phase out longstanding rules requiring financial firms to separate their internal networks from the outside internet, aiming to strengthen the industry’s defenses against sophisticated cyberattacks powered by artificial intelligence (AI), officials said Friday. However, cybersecurity experts warn that easing the rules before adequate safeguards are in…
Korea's top financial regulators plan to phase out long-standing network separation rules for financial institutions, aiming to bolster defenses against advanced cyber threats fueled by artificial intelligence (AI), officials confirmed on Friday. However, cybersecurity specialists caution that prematurely relaxing these regulations could expose the industry to fresh vulnerabilities.
Financial Services Commission Chair Lee Eog-weon announced on Thursday that the regulator would establish a task force this month to draft a plan by the first quarter of the following year to replace the current "network separation" rules with an AI-driven security framework, adhering to the principle of countering AI attacks with AI technology.
The task force will comprise representatives from the Financial Services Commission, the Ministry of Science and ICT, the National Intelligence Service, the Financial Supervisory Service, the Financial Security Institute, as well as private sector experts in AI and cybersecurity, and key financial industry leaders. The regulatory changes will be implemented incrementally, given the complexity of the transition.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
