South Korean Financial Sector Hit by Cyber Attacks, Regulators Call for Security Checks

A series of cyber attacks has led to personal data breaches in South Korea's financial sector. The Financial Supervisory Service (FSS) has urged financial institutions to complete internal security checks promptly and report the results to the regulatory authorities. After an emergency meeting with executives from financial institutions and industry associations, Financial Services Commission (FSC) Chairman Lee Eog-weon stated that the entire financial sector should conduct security checks swiftly and thoroughly. Preliminary investigations indicate that some attacks targeted external websites with lower monitoring intensity, as well as servers used by loan agents and employees. Regulatory authorities cannot rule out the possibility of artificial intelligence being used in the attacks and are calling for the expedited development of security systems capable of "defending against AI attacks with AI." South Korean President Yoon Suk-yeol has been briefed on the data breach incident and response measures, with a spokesperson stating that the president takes the matter "very seriously" and has instructed relevant departments to conduct a thorough investigation and formulate response measures.