Ruling Party Calls for Government-Wide Investigation into Banking Cyber Attacks

The ruling People Power Party has urged the formation of a government-wide joint investigation team following a series of hacking incidents affecting not only major banks but also secondary financial institutions such as savings banks and capital companies.

Choi Bo-yoon, the party's chief spokesperson, stated on October 4 that "after Shinhan, KB Kookmin, Hana, and BNK Busan Bank, the recent hacking attacks have also targeted Yeogaram Savings Bank and Hyundai Capital, indicating a troubling trend across both major and secondary financial sectors."

Choi emphasized that "the widespread and sequential disruption of the nation's financial safety net is an extraordinary situation that cannot be taken lightly."

He criticized financial authorities for their slow response, noting that they initially planned to receive self-assessment results from financial institutions after the holiday but hastily convened a meeting today as the extent of the damage became apparent. He questioned, "In a country that secures its doors only after a thief has entered, where can citizens safely entrust their money?"

Choi further stated, "The government must thoroughly investigate the scale of the damage, the gaps in the response process, and the confirmed failures, and hold those responsible accountable."

The People Power Party also asserted that the possibility of North Korean involvement in these hacking incidents should not be dismissed. Choi recalled past cyberattacks, including the 2011 incident that paralyzed the Nonghyup banking system and the March 20, 2013 cyberattack that simultaneously disrupted the systems of Shinhan Bank, Nonghyup, and several broadcasting companies, which were later attributed to North Korea's reconnaissance bureau.

He stressed that "North Korea's cyber attacks are not a thing of the past but an ongoing threat," calling for the immediate activation of a government-wide joint investigation team involving the National Police Agency's Security Investigation Bureau, the National Intelligence Service, and military intelligence agencies related to North Korea.