"Jeonse Loan Tenants Allowed Loan Disbursement First,
Guarantee Certificate Enrollment to Follow"
On July 14, SGI Seoul Guarantee announced that it had identified a disruption in its computer systems caused by a ransomware attack.
The exterior view of the SGI Seoul Guarantee headquarters building in Jongno-gu, Seoul. SGI Seoul Guarantee
On the morning of July 14, SGI Seoul Guarantee experienced a computer system outage. As a result, the company faced difficulties in processing tasks such as issuing guarantee certificates for jeonse loans.
SGI Seoul Guarantee explained that it had determined the cause of the disruption in close cooperation with relevant professional organizations and experts, including the Financial Security Institute. The company stated that the cause is presumed to be a ransomware attack.
SGI Seoul Guarantee also stated that it is responding company-wide to prevent further damage and to ensure a swift recovery.
Regarding jeonse loans, the company coordinated with commercial banks to allow eligible tenants to receive loan disbursements first, with guarantee certificate enrollment to follow. As a result, major commercial banks have now adjusted their internal processes and are processing jeonse loans as usual.
Additionally, there was a temporary error in connecting to the customer support center (call center) due to the system outage, but this was resolved around 3 p.m. Currently, calls to the company’s main number and branches are being connected normally.
A representative from SGI Seoul Guarantee stated, "We will do our utmost company-wide to resolve the disruption as quickly as possible."
SGI Seoul Guarantee plans to continue communicating with financial authorities and related institutions regarding the progress of the incident, recovery status, and measures to prevent recurrence.
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