At a comprehensive parliamentary audit of the financial sector, lawmakers raised issues spanning governance, loan rate-setting, security and consumer protection. They flagged practices in which retired executives stay on as advisers, and concerns over former Financial Supervisory Service officials taking jobs in financial holding companies. Some banks were criticised for raising add-on rates and cutting preferential rates. Low compensation under a voice phishing scheme and vulnerabilities in bank security software were also questioned, along with a lack of long-term fixed-rate mortgages.

A string of hacking incidents in South Korea’s financial sector has led to confirmed personal data leaks at savings banks and mutual finance groups, prompting authorities to step up inspections and security requirements. Banks are moving to raise cybersecurity spending and expand fraud prevention systems using AI. Market volatility and a steep stock selloff also drew a policy response. Political debate intensified over postponing digital asset taxation and regulating exchange shareholders.