Finance

Financial sector hacking spreads, delays gain support for digital asset tax postponement

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.

Finance

Naver Pay, Kakao Pay, Toss to notify 1.76 million users of unused prepaid balances

Naver Pay, Kakao Pay and Toss will strengthen notifications for prepaid top-up balances left unused for long periods and provide easier refund procedures. The three platforms hold a combined 25.5 billion won in long-term unused prepaid balances, involving 1.76 million users including overlaps. Notification targets, thresholds, validity periods and channels differ: Kakao Pay starts from 1 won after 1 year, while Naver Pay and Toss use 1,000 won after 2 years.