AI consultation fact disclosure, human connection proposal, and damage relief standards also reviewed

The Korea Institute of Finance proposed at a November 4 seminar at the Bankers Club in Seoul that financial firms disclose when consumers are interacting with AI and offer transfers to human agents on request. The institute's presentation on AI-driven financial services also called for rules requiring product recommendations to serve consumers' best interests, not merely avoid unsuitable sales, and for supplemented standards on damage relief. The proposals matter because AI is spreading across consulting and sales channels faster than consumer-protection rules have adapted. What to watch next is whether regulators formalize AI-disclosure and human-handoff requirements and how best-interest obligations are defined for algorithmic recommendations.