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Finance

South Korea to step up joint monitoring of stock market volatility, vows strict response to disruptions

South Korea will strengthen real-time joint monitoring after volatility in the domestic stock market widened sharply, the government said. It will watch whether stock market instability spreads to the bond, foreign exchange and short-term money markets, and respond strictly to market-disrupting acts. Officials met in Seoul to review financial market conditions and discuss 대응 directions, citing factors such as U.S. Treasury yields, the AI and semiconductor cycle, and geopolitical tensions in the Middle East.

Politics & Government

44 central government agencies to relocate to Sejong from 2027, including broadcast, privacy and finance bodies

The government will relocate 44 central administrative agencies still based in the Seoul metropolitan area to Sejong from 2027 in stages, including the Broadcast Media Communications Commission, the Personal Information Protection Commission and the Financial Services Commission. It will move 27 agencies using leased private offices, with 25 to complete relocation in 2027. Another 17 agencies will relocate by 2031 after building separate facilities. The plan includes budget estimates and support for relocating civil servants.

Fintech

Financial sector hacking spreads, signs of same attacker at seven firms

Hack attacks targeting South Korea\'s financial sector are spreading beyond commercial banks to savings banks and capital firms, with indications the same attacker is involved. Welcome Savings Bank reported an intrusion into a corporate customer-related system, with up to 2,200 records possibly leaked. President Lee Jae-myung ordered a thorough probe and countermeasures. Financial authorities held an emergency meeting and said related IP addresses were found across seven firms, raising the possibility of automated attacks using AI tools.