South Korea is planning a cybersecurity overhaul after attacks hit its banks and crypto firms. When the targets are custody and payment rails, the answer is budget, not rhetoric. Security spend tied t

What happened: South Korea's FSC proposed tighter cybersecurity rules for financial firms after a review found deficiencies at 130 of 555 companies and incidents at 16 firms, including crypto exchanges. Key numbers: 130 of 555 financial companies had deficiencies. About 100,000 pieces of customer information exposed. Why it matters: The FSC plans more frequent assessments, better threat monitoring, executive accountability, and possible AI use in monitoring for smaller firms. It is still investigating whether the incidents involved AI or the same attackers.

South Korea's FSC proposed tighter cybersecurity rules for financial firms after a review found deficiencies at 130 of 555 companies and incidents at 16 firms, including crypto exchanges.

The FSC plans more frequent assessments, better threat monitoring, executive accountability, and possible AI use in monitoring for smaller firms. It is still investigating whether the incidents involved AI or the same attackers.