Increasing Use of Generative AI... Network Separation Improvement Briefing for All Financial Sectors

Your Turn: Industry-Specific Briefings Also Held
"Detailed Security Consulting Conducted for Each Financial Company"

The financial authorities held a briefing session on the improvement measures for network separation in the financial sector, which operates by separating external networks such as the internet from internal work networks. They explained the step-by-step roadmap, provided guidance on the operation direction of the regulatory sandbox, and introduced strengthened security measures. Detailed security consulting for each financial company will also be conducted through sector-specific briefings in the future.

The Financial Services Commission and the Financial Supervisory Service, together with the Financial Security Institute, held a joint business briefing on the "Regulatory Improvement Roadmap for Network Separation in the Financial Sector" on the 22nd, targeting all financial industries. About 400 IT and security personnel from financial companies attended the briefing.

First, they explained the operation direction of the regulatory sandbox. For the regulatory sandbox aimed at expanding the scope of generative AI use and cloud-based software (SaaS), the focus is on the innovativeness of financial products to be launched using AI and SaaS and the benefits to consumers. In addition, it is carefully evaluated whether appropriate security measures are in place.

To improve network separation in research and development fields, the "Electronic Financial Supervision Regulations" will be revised within the year. Additional security measures that financial companies must comply with and detailed guidelines on the specific scope of use of research and development networks will be provided later through guidelines.

A meeting between Kim Byung-hwan, Chairman of the Financial Services Commission, and heads of major banks was held on the 20th at the Seoul Banking Hall. Chairman Kim is delivering a greeting. Photo by Heo Young-han younghan@

The main contents of the strengthened security measures that financial companies must have were also explained. The security measures suggested by the financial authorities serve as reference guidelines. Actual security measures may vary depending on the content of individual services, the scope of data used, and the security capabilities of financial companies.

In particular, it was emphasized that there is no restriction to using only specific security methods or technologies, and that financial companies can autonomously configure security measures by utilizing various security technologies, provided that sufficient security is ensured.

Starting with the overall briefing held on this day, four sector-specific briefings will be held. Specific consulting on security measures established by individual companies will be provided. Applications for the regulatory sandbox will be accepted in September, and innovative financial services reflecting regulatory improvements are planned to be designated as early as within the year.

This content was produced with the assistance of AI translation services.