The Financial Supervisory Service met with the securities industry and urged them to enhance the safety of stock transactions.
The FSS announced that it held a workshop on capital market transaction safety enhancement on the 25th. About 150 attendees, including employees responsible for securities firms, the Korea Financial Investment Association, and the Financial Security Institute, participated in the meeting.
The meeting discussed measures to prevent investor damage due to recent consecutive computer incidents and to alleviate market anxiety. The FSS shared plans to strengthen the safety of stock transactions and key issues, while the securities industry presented examples of internal control improvements and preventive measures.
According to the FSS, there were 429 computer incidents at securities firms over the past five years. The annual occurrence also shows an increasing trend, from 66 cases in 2020 to 100 cases in 2024. In particular, this year alone, 58 computer incidents occurred in the first half, heightening investor anxiety.
Seo Jae-wan, the deputy director of the FSS in charge of financial investment, said, "Repeated computer incidents are a serious matter that leads to failures in investor protection, increased reputational risks for securities firms, and distrust in the capital market," and urged, "Please strive to establish a strengthened IT internal control system and prevent computer incidents from occurring in advance."
KB Securities and Meritz Securities shared measures to improve IT internal controls and prevent computer malfunctions. Strategies focused on enhancing transaction safety through organizational and personnel expansion, as well as program performance management improvements. They also formed a task force (TF) to establish company-wide electronic financial incident prevention measures.
The FSS stated, "We expect this workshop will contribute to enhancing capital market transaction safety and capacity," and added, "Financial authorities and the industry plan to continue strengthening communication and collaboration to enhance the credibility of the capital market and protect investors."