South Korea's National Assembly passes wide-ranging AI bill
South Korea's National Assembly passed the Basic Act on the Development of Artificial Intelligence and the Establishment of Trust in the concluding days of 2024, CCN reports. The law combines 19 AI-centric proposals from lawmakers into a single framework that places restrictions on high-risk AI models, similar to the EU AI Act. The AI Basic Act includes financial penalties for violations of up to KRW30 million.Full story