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Prime Minister Kim Min-seok speaks during an emergency meeting on hacking incidents involving telecom and financial companies at the Seoul Government Complex on September 22. / Source: Yonhap News

Prime Minister Kim Min-seok on September 22 pledged sweeping reforms to strengthen cybersecurity after a series of large-scale hacking incidents targeting telecom and financial firms, warning that the government would exercise direct investigative authority and impose harsher sanctions on violators.

Chairing an emergency meeting at the Seoul Government Complex, Kim said, “There are suspicions that companies attempted to conceal or downplay the incidents. We will thoroughly investigate and hold those responsible accountable to dispel every doubt the public may have.”

Officials from the Ministry of Science and ICT, the Financial Services Commission, the Personal Information Protection Commission, the National Police Agency, the National Intelligence Service, the Prime Minister’s Office, the Financial Supervisory Service, the Korea Internet & Security Agency, and the Financial Security Institute attended the meeting.

Calling the breaches a “threat to the people,” Kim criticized lax responses and urged a comprehensive review of the nation’s cyber defense posture. “All ministries must treat this with the resolve of waging a war against hacking,” he said.

The government announced plans to overhaul information security frameworks across the telecom and financial sectors. Unlike before, when probes could only be launched following corporate disclosures, authorities will now be empowered to conduct investigations ex officio. Penalties for security failures, including fines, will also be strengthened.

Kim stressed the need for whole-of-government cooperation under the National Security Office and urged lawmakers to pass pending cybersecurity legislation in the current parliamentary session.

On victims, he promised full redress: “We will ensure affected individuals are compensated without inconvenience, while thoroughly investigating whether inadequate corporate security management contributed to these breaches.”