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【South Korea’s Financial Services Commission to urgently convene a security threat response meeting next week, with the heads of the five major banks attending】

In view of the frequent hacker attacks recently, South Korea’s Financial Services Commission will November 5 urgently convene a AI financial-sector security threat response roundtable, chaired by FSC Chairman Lee Eog-won. Financial Supervisory Service Governor Lee Chan-jin, Financial Security Institute President Park Sang-won, as well as the heads of KB KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank and NH NongHyup Bank, the five major banks, will attend. The meeting will focus on reviewing the implementation of enhanced security measures following recent cyberattacks against the financial sector. The meeting reportedly coincides with the terms of office of all five major bank heads expiring in December 31. Each financial group has already launched its successor selection process, and cybersecurity and internal control capabilities may become important variables in the five major banks’ year-end personnel appointments.