Comprehensive inspections of security vulnerabilities at financial firms… sample inspections to be conducted at a comparable levelEasing network separation regulations for AI use to be pursued “in stages”
Financial Supervisory Service Governor Lee Chan-jin said on October 19 that he intends to hold the chief executives of financial companies accountable in connection with a recent series of hacking incidents in the financial sector.
Financial Supervisory Service Governor Lee Chan-jin answers lawmakers’ questions during a parliamentary audit of the Financial Supervisory Service and other agencies at the National Assembly on Oct. 19, 2026. Photo by Yoon Dong-ju
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At a parliamentary audit of the Financial Supervisory Service and other agencies by the National Assembly’s Political Affairs Committee that day, Lee said of the cyber incidents in the financial sector, “This hacking incident will be the first case in which the issue of CEO accountability is addressed in relation to the duty to manage internal control standards.” He said the aim was to examine CEO accountability by linking financial-sector hacking incidents to whether companies had breached their duty to manage internal controls.Lee also said that the FSS was conducting a comprehensive inspection of security vulnerabilities at financial companies. It also plans to make sample inspections as comprehensive as possible, at a level comparable to a full inspection.On easing network separation regulations to allow the use of artificial intelligence (AI) for security purposes, Lee said the changes would be pursued in stages.
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“It would be difficult to ease the network separation regulations across the board,” he said. “Our basic position is to first proceed with measures that adhere to the fundamentals while minimizing exposure to external networks.”
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