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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

Financial sector hacking leaks 100,000 records; FSC tightens CEO security accountability

A string of hacks targeting South Korea\'s financial sector has led to confirmed breaches at 16 financial companies and the leakage of about 100,000 items of personal information, authorities said. After an emergency inspection of 555 financial firms, 130 reported shortcomings in security management. The Financial Services Commission plans institutional changes to strengthen CEOs\' and boards\' responsibility for security, expand vulnerability checks and improve threat-information sharing and monitoring systems.

Finance

P2P finance industry calls for fair standards for big platform entry

South Korea\'s online investment-linked finance industry said it is using the parliamentary audit as an opportunity to stress fair competition principles and responsibilities as large financial platforms enter the market. The Online Investment-Linked Finance Association said big firms\' expansion does not necessarily increase funding for mid- to low-credit borrowers and called for standards to support consumer protection and fair competition. It also urged safeguards against conflicts of interest when platforms both broker loans and supply products.