Chairperson Lee Eog-weon of the Financial Services Commission (FSC) said on the 12th that preparation is needed for unforeseen risks, noting that "there are cases where problems that arise outside finance, like the Coupang mass personal data leak, again affect finance."
The Chairperson said this at a briefing by related institutions under the Financial Services Commission held at the Government Complex Seoul annex, saying, "Rather than viewing issues only within the framework of finance, keep a broad perspective, and because various unforeseen risks occur, prepare for situations that go beyond the usual scope."
Seven institutions attended the briefing: Korea Exchange (KRX), Korea Credit Information Services, Financial Security Institute, Korea Insurance Development Institute, Korea Financial Telecommunications and Clearings Institute, Korea Securities Depository (KSD), and Korea Growth Investment Corporation (K-Growth).
At the briefing, the Financial Security Institute reported that it will launch preemptive security monitoring to establish an attack detection system and apply artificial intelligence (AI) technology to attack detection. It also said it will expand the participants in the voice phishing AI platform.
Referring to last year's Seoul Guarantee Insurance incident response, the Chairperson said, "Prevention in advance is more important than post-incident recovery," and asked the institute "how it will respond to and resolve unforeseeable situations for prevention in advance." The institute replied, "Mock hacking is important to identify vulnerabilities in advance," and added, "Since we have more mock hacking personnel than other private firms, we will continue to expand the organization and broaden services to financial companies."
In its briefing, Korea Credit Information Services said it will build an integrated information center for small business owners and the self-employed and develop a customized credit scoring model for small business owners to drive a major shift toward productive and inclusive finance. Regarding the customized credit scoring model for small business owners, the Chairperson said, "We need to examine whether the specific difficulty lies in the limits of information collection or in the way it is used," and added, "Only when data sharing and cooperation among institutions occur within the bounds of the law will there be tangible results."
The Korea Insurance Development Institute reported on the operation of the Silson24 service, the prevention of insurance payout leakage, and the diversification of insurance products. It announced that to expand the linkage between the Silson24 service—currently joined by 25,948 locations—and care institutions, it will continue efforts to encourage participation by hospitals and hospital electronic medical record (EMR) system vendors.
The Korea Financial Telecommunications and Clearings Institute explained that it will focus on supporting inclusive finance, including expanding the refinancing service for personal business credit loans and building a brokerage system for bank agency business.
In opening remarks, the Chairperson emphasized, "Across the government, last year was about recovery, and this year we are pushing for a great leap forward and growth for all," adding, "I think there will be more synergy if we align our pace while considering the overall direction of state affairs."