Financial Security Institute, Awards Ceremony for Thesis and Big Data Idea Contest

Selection of 7 Outstanding Papers

[Asia Economy Reporter Park Sun-mi] On the 2nd, the Financial Security Institute held the award ceremony for the 4th Financial Security Institute Thesis Contest and Financial Big Data Idea Contest at the Yeouido Financial Security Education Center.

A total of 38 theses were submitted to the thesis contest, and among them, 7 outstanding theses were selected. The grand prize of the thesis contest (Chairman Award of the Financial Services Commission) was awarded to "A Study on Federated Learning Techniques Ensuring Privacy," which deals with strengthening AI security (Na Seung-ho and 2 others, KAIST). A prize of 7 million KRW was awarded as a reward.

The Excellence Award (Financial Supervisory Service Governor Award) was given to "Systematization of the Economic Regulation and Administrative Law Concept of Medical Practices for Improving Domestic Insurtech Insurance and Financial Regulations" (Lee Bo-hyung, Seoul National University).

A total of 75 entries were submitted to the Financial Big Data Idea Contest. The Financial Security Institute selected 6 outstanding works among them and held an award ceremony. The Excellence Award (Financial Security Institute President Award) was awarded to "Development of a Platform to Prevent the Dark Nudge Phenomenon in the Subscription Economy Using Payment Information" (Yoo Ji-hyun and 2 others, Chung-Ang University). A prize of 2 million KRW was awarded as a reward.

The Financial Security Institute announced that the award-winning theses from the thesis contest will be published as a collection and actively shared by distributing them to academia, financial companies, and related organizations so that they can be utilized for discovering innovative financial services and strengthening financial consumer protection. In addition, the award-winning ideas from the Big Data Idea Contest will be shared with the financial sector to be used for developing innovative data-driven financial products and services.

Kim Young-gi, President of the Financial Security Institute, emphasized, "Through this contest, we were able to confirm the passionate interest in security issues and challenges in the financial sector, and we plan to continue developing the Financial Security Institute's contest into a leading domestic research platform specialized in financial security and financial big data."