South Korea Orders Financial Firms to Restrict External Access After Hacks

South Korea’s Financial Services Commission ordered financial firms to block external access unless it is essential for customer services or business operations, after a series of hacking incidents. Chairman Lee Eok-won chaired an emergency meeting at the Government Complex Seoul on October 4, joined by Financial Supervisory Service Governor Lee Chan-jin and Financial Security Institute head Park Sang-won. Authorities said attacks had targeted external webpages and servers used by employees and loan brokers. Firms must inspect exposed systems, authentication and access controls, limit permissions and review consumer protection. Lee warned that firms neglecting known threats could face accountability under existing laws.