The Financial Services Commission of South Korea will hold an emergency meeting next week to address security threats, with the presidents of the top five local banks in attendance

Due to the recent frequent hacker attacks, the Financial Services Commission of South Korea will urgently hold a seminar on responding to AI security threats in the financial industry on November 5, chaired by Chairman Lee Ik-yeon. The meeting will be attended by Financial Supervisory Service Governor Lee Chan-jin, Financial Security Institute Director Park Sang-won, and the presidents of the five major banks: KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank, and NH Nonghyup Bank. The focus will be on examining the implementation of security enhancement measures following recent cyber attack incidents in the financial industry.

It is reported that this meeting coincides with the expiration of the terms of the five major bank presidents on December 31, and each financial group has initiated the successor selection process. Cybersecurity and internal control capabilities may become important variables in the year-end personnel arrangements of the five major banks.