|Lendit CEO Kim Sung-joon / Courtesy of Lendit|
By Kim Bo-eun
Kim Sung-joon, the head of peer-to-peer lending platform Lendit, is set to play a role in government innovation efforts, as a member of a presidential committee.
Kim was appointed to the Fourth Industrial Revolution Committee, which was created to lead in incorporating key technologies such as artificial intelligence (AI) and hyper-connected networks in various sectors.
Led by Seoul National University professor Yoon Sung-roh, the committee is comprised of six government officials and 20 non-governmental experts. The members of the government include the ministers of ICT, industry, labor, SMEs, and infrastructure. The committee held its first meeting, Thursday ― a video conference, as social distancing is being practiced amid the coronavirus outbreak.
The committee will review and touch up the government's execution plan on national AI strategies unveiled in December. The government has pledged to set up a leading ecosystem for AI, to best utilize the technology. The committee is set to look into setting up appropriate regulations.
Members of the committee appointed this year will serve until March of next year.
Kim founded Lendit in 2015, and saw loans on the platform grow to an accumulated 200 billion won ($162.55 million) in its first five years of business.
Kim also took part as a member of the private sector in establishing regulations on peer-to-peer lending, which were set up in October.
"After taking part in the legislation process for regulations on the P2P finance industry, I realized how much influence policies and regulations can have on our daily lives," Kim told The Korea Times.
"By participating on the Fourth Industrial Revolution Committee, I hope to contribute to new positive developments. I also hope, as an entrepreneur, to deliver the voice of those in the industry so that policies that assist the development of new industries can be set up."