On May 22, the Financial Supervisory Service announced that it had signed a memorandum of understanding (MOU) at the headquarters of the Financial Security Institute in Yongin, Gyeonggi Province, to strengthen the response to security threats in the financial sector.
The Financial Supervisory Service explained that, through this agreement, it plans to establish an integrated monitoring system and systematically manage cyber threat information that has a significant impact on the overall financial IT sector.
In addition, the agency stated that it will enhance activities to prevent security incidents by sharing information on cyber threats that exploit vulnerabilities in financial IT infrastructure, conducting blind penetration testing, and operating a reward system for reporting security vulnerabilities. Furthermore, it will establish a system to promptly report the financial sector's response to the Financial Services Commission in the event of a crisis in the financial IT sector.
Lee Bokhyun, Governor of the Financial Supervisory Service, emphasized, "In the case of security incidents in the financial sector, the stability and trust of the financial system can be undermined, which may have a significant impact on the economic activities of the public." He added, "The two institutions must work closely together to respond quickly and precisely to security threats, while also playing a role in raising the overall security capabilities of the financial sector."
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