The Financial Supervisory Service is preparing a comprehensive response plan to prevent a recurrence of the SGI Seoul Guarantee incident, where systems were paralyzed by a ransomware attack.
The FSS announced on the 18th that it had launched an on-site inspection immediately after recognizing the breach incident at SGI Seoul Guarantee on the 14th, focusing all efforts on response and recovery.
The FSS noted, "We supported the analysis of the cause of the incident and the recovery of IT systems in cooperation with the Korea Financial Security Agency." SGI Seoul Guarantee restored its core IT systems and resumed issuing guarantees at 10 a.m. on the 17th. Furthermore, to prevent the spread of similar breaches, urgent warnings are being disseminated throughout the financial sector.
The FSS said, "We are prioritizing the normalization of all operations at SGI Seoul Guarantee and plan to establish a comprehensive response plan for new types of cyber threats and IT failures as soon as the cause of the incident is identified in consultation with the financial sector."