AI and Data Era Opens New Leap for Korean Finance, Sohn Says Execution Is Key

Sohn Byung-doo, CEO of Toss Insight, said on May 14 at the 2026 Dong-A International Finance Forum that the shift driven by AI and data could become a new opportunity for Korean finance to advance. Sohn, a former vice chairman of the Financial Services Commission and former chairman of the Korea Exchange, spoke in a lecture titled “Innovative Financial Transformation for an Economic Rebound.” He said Korean finance supported industrialization and growth over the past 50 years but did not achieve a sufficient leap of its own. From the 1970s to the late 1990s, he assessed, finance largely remained a tool for collecting national savings and attracting foreign capital, then allocating them to state-led strategic industries. After the 1997 foreign exchange crisis, prudential regulation and risk management were strengthened, improving financial stability. Sohn said AI could enable both productive and inclusive finance, while data and network effects may open paths for Korean finance to expand globally. Source: rss.donga.com