Financial Information Protection Council Holds Regular General Meeting
Senior Deputy Governor Lee Sehoon Stresses Security Capabilities Under CEO Responsibility
The Financial Supervisory Service has instructed financial institutions to prioritize strengthening information security as their top management objective.
The Financial Information Protection Council held its 23rd regular general meeting on the morning of December 16 at the Conrad Hotel in Yeouido, Seoul. The meeting was attended by Lee Sehoon, Senior Deputy Governor of the Financial Supervisory Service, Park Sangwon, President of the Financial Security Institute, and approximately 210 Chief Information Security Officers (CISOs) from financial institutions.
In his opening remarks, Senior Deputy Governor Lee emphasized, "The security level of financial institutions is directly linked to the trust of financial consumers. Therefore, information security should no longer be seen as a cost, but as an investment essential for survival. It is necessary to build security capabilities that match the scale of business growth." He also urged the CISOs to "diagnose information technology (IT) and security risks and fulfill their roles as key leaders in driving the security culture within their organizations."
He further stressed the need to establish and operate a continuous and systematic information security management process. He called for thorough identification and inspection of information assets, prompt response to vulnerabilities to ensure the stability of the financial system, and diligent execution of routine security activities such as security updates. Additionally, he highlighted the importance of preparing effective manuals to enhance cyber resilience, including on-site, customized emergency response plans for rapid service recovery in the event of an information security incident.
At the general meeting, in addition to the opening remarks by Senior Deputy Governor Lee, there were welcoming remarks from President Park and special lectures by Lee Sanggeun, a professor at Korea University, among others. Awards were presented to 12 outstanding employees from financial institutions who demonstrated exemplary performance in financial security work: three received the Financial Supervisory Service Governor's Award, four received the Chairman of the Financial Information Protection Council's Award, and five received the Financial Security Institute President's Award. The Financial Supervisory Service Governor's Award was presented to Jeong Hyunseung, Team Leader at Daishin Securities; Moon Gwangseok, Section Head at Korean Reinsurance; and Lim Hyuk, Deputy Department Head at NH Investment & Securities.
Senior Deputy Governor Lee stated, "Over the past year, not only in finance but also in various industries such as telecommunications and distribution, a series of major hacking incidents have occurred, heightening public anxiety about the safety and reliability of IT information security." He added, "In response to increasingly sophisticated and large-scale cyber threats, both supervisory authorities and financial institutions must re-examine whether their existing response strategies are adequate and make special efforts to prevent incidents."
President Park said, "With the emergence of new technologies such as artificial intelligence (AI) and blockchain, new security risks will continue to arise," adding, "To address these risks, we will strengthen cooperation with member companies of the Financial Information Protection Council and enhance our joint response capabilities."
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