Vice Chairman Kwon Dae-young of the Financial Services Commission presided over the kickoff meeting of an advisory group for seeking improvements to the personal credit data consent system on June 16. At the meeting, Vice Chairman Kwon spoke about the need to upgrade the personal credit data consent system in Korea as it has remained largely unchanged since its adoption in 1995. In this regard, Vice Chairman Kwon said that in an era of AI transformation, the personal credit data consent rules have been put to use too strictly often at a detriment to the protection of financial consumers' data consent right in practice. Thus, Vice Chairman Kwon urged the members of the advisory group to seek practical solutions to make improvements in ways that can ensure the protection of consumer rights and the safety of data use, while also creating value in terms of inclusive and productive finance.