Shinhan Financial Group Activates Crisis Response System Following National Information Resources Service Fire

Shinhan Financial Group announced on September 28 that it has activated its crisis response system in connection with the fire incident at the National Information Resources Service.

Immediately after the incident, on September 27, Shinhan Financial Group convened a meeting chaired by the Group Chief Risk Officer (CRO), bringing together major affiliates including the bank, card, securities, and savings bank. The group established a monitoring system to track the situation in real time and is continuously checking the status.

Additionally, since the evening of September 26, Shinhan Financial Group has been notifying users via the main affiliates’ websites and mobile apps about the suspension of government services such as non-face-to-face real-name verification and ID authenticity checks related to resident registration cards. The group is also providing information on alternative authentication methods, such as mobile driver’s licenses, and the availability of related services.

To prevent a complete halt of operations due to disruptions in certain financial transaction processes, Shinhan Financial Group is monitoring all systems to ensure that, in the event of a system failure, operations can be quickly separated and switched to backup systems.

Furthermore, the group has reinforced its emergency information security system to immediately block any external hacking attempts that might exploit the current confusion. These measures are being taken in parallel with efforts to prevent financial accidents and stabilize financial services. As a precaution, the group has also reviewed its data center accident prevention measures and disaster recovery center activation plans to ensure rapid system normalization in case of problems.

Starting from the opening of each affiliate’s branches on September 29, Shinhan Financial Group plans to implement pre-established measures at branches and call centers to promptly respond to customer requests that could not be processed due to the fire incident.

A Shinhan Financial Group representative said, “Shinhan Financial Group will actively cooperate with financial authorities and other government agencies to resolve this situation,” adding, “We will do our utmost to maintain financial stability and minimize customer inconvenience under any circumstances.”