Seoul: Prime Minister Kim Min-seok announced on Monday that the government will initiate a comprehensive overhaul of data protection systems within telecoms and financial companies, following a series of alarming security breaches reported by major mobile carriers and a credit card issuer.
According to Yonhap News Agency, the prime minister made this statement during an emergency government meeting aimed at addressing the recent hacking incidents involving SK Telecom Co., KT Corp., and Lotte Card Co. "The government is deeply sorry and heavy-hearted that the people's personal information has been leaked and their precious assets have been used in unauthorized payments," Kim stated during his opening remarks.
The urgency of the situation was underscored by the reported incidents. In April, SK Telecom disclosed a cyberattack on its network servers, potentially compromising the private data of its entire user base. Meanwhile, KT Corp. reported illegal micropayments impacting 362 subscribers in recent weeks. Moreover, a hacking incident last month at Lotte Card compromised the personal information of approximately 3 million customers.
Kim assured that the government will "carry out a complete overhaul of data protection systems at telecoms and financial companies so that similar hacking incidents do not recur." The meeting, which included officials from the Financial Services Commission, the Personal Information Protection Commission, and other relevant agencies, focused on devising all possible damage remedies to ensure affected individuals do not face further inconveniences.
The prime minister also emphasized the government's commitment to thoroughly investigating the root causes of these security breaches and identifying any deficiencies in the companies' security management systems. He pledged to verify the existence of any hidden victims in yet uncovered channels, ensuring comprehensive redress for those impacted by these breaches.