South Korea Launches the World's First Comprehensive AI Regulatory Framework: Strict Oversight of High-Risk Areas
South Korea introduced the world's first comprehensive AI regulatory framework, the 'AI Basic Law,' aimed at establishing safety and trust, and promoting South Korea to become one of the top three global AI powers. The act has fully come into effect, with progress leading that of the EU. The act focuses on regulating high-impact AI systems in areas such as nuclear safety, healthcare, transportation, and financial loan approvals.