Key facts
- Lee gave the order at a Cabinet meeting on November 3, following hacking attacks on local financial firms.
- Breaches of customer information hit Mirae Asset Global Investments, crypto exchange Bithumb and Daishin Securities, according to Yonhap.
- Lee cited the hacking of Binance, which Yonhap said resulted in the theft of more than $6 billion worth of cryptocurrency.
- Lee called for a comprehensive prevention system, saying cyber threats pose a serious threat to the national economy and security.
- Lee instructed officials to improve cybersecurity shortcomings at state institutions and key infrastructure in information communications, energy and finance.
- Lee said the spread of hacking techniques, fueled by artificial intelligence, exposes limits of current security maintenance systems.
South Korean President Lee Jae Myung instructed officials on November 3 to consider establishing a cybersecurity task force dedicated to enhancing online security, his office said at a Cabinet meeting in Seoul. The order followed a series of hacking attacks on local financial firms that resulted in data breaches of customer information, including most recently Mirae Asset Global Investments, crypto exchange Bithumb and Daishin Securities, Yonhap reported.
Lee's remarks also followed the hacking of Binance, the cryptocurrency exchange, which Yonhap said resulted in the theft of more than $6 billion worth of cryptocurrency. The U.S. Federal Bureau of Investigation has since blamed North Korea for the cyber theft, according to Yonhap.
Lee called for a comprehensive prevention system against cybersecurity threats, saying they have worsened to the extent of posing a serious threat to the national economy and security, as well as people's everyday lives. He said the growing sophistication and spread of hacking techniques, fueled by the development of artificial intelligence, are exposing the limits of current security maintenance systems.
The president highlighted the need for discussions aimed at establishing a pan-government agency in charge of ensuring cybersecurity in both the public and the private sectors. In particular, he instructed officials to proactively consider the formation of a cybersecurity czar agency that can serve as a strong and effective control tower for security management.
Lee also instructed officials to thoroughly improve any cybersecurity shortcomings involving major state institutions and key state infrastructure, such as information communications, energy and finance. Reuters separately reported that Lee called for a powerful government-wide cybersecurity body to coordinate functions scattered across agencies.