Financial Services Commission Chairman Lee Eok-won met with senior executives of Britain's Standard Chartered Group to discuss artificial intelligence transformation in the financial industry and ways to develop South Korea into a global financial hub.
The FSC said Lee met with Manus Costello, chief financial officer of Standard Chartered Group, and Jason Forrester, chief risk officer, at the Government Complex Seoul on the 12th.
The two sides agreed on the need for safe AI transformation, taking into account the potential risks that come with accelerating adoption of the technology. Lee said the commission will continue to improve regulations and conditions needed for the country to emerge as a global financial hub.