Seoul: South Korea will take all-out efforts to minimize the fallout from data breaches reported by local telecom and financial companies, the science ministry said Friday. Second Vice Minister of Science Ryu Je-myung made the remark during a joint press conference with the Financial Services Commission in the wake of recent data breach cases at SK Telecom Co., KT Corp., and Lotte Card Co.
According to Yonhap News Agency, the science ministry, alongside leading security experts, plans to conduct a thorough review of the existing security systems. This initiative is aimed at establishing fundamental measures to combat data breaches, moving beyond temporary actions. The decision to implement these measures follows recent instructions from President Lee Jae Myung, who emphasized the need for comprehensive strategies to mitigate damage from hacking attacks.