South Korea tightens cybersecurity rules for crypto exchanges

• South Korea plans stronger cybersecurity oversight after identifying security weaknesses across financial firms.
• A review covered 555 financial companies and found deficiencies at 130, according to the Financial Services Commission.
• Proposed measures target security assessments, incident prevention and greater executive accountability across the financial sector.

South Korea’s Financial Services Commission (FSC) plans tougher cybersecurity controls after finding weaknesses across financial institutions.

The review covered 555 financial firms and identified security deficiencies at 130, prompting plans to strengthen prevention and oversight.

The FSC’s measures target recurring cybersecurity failures and seek stronger responsibility for protecting financial systems and customer information.

The review identified approximately 100,000 exposed records, highlighting the potential consequences of inadequate security controls across the sector.

Proposed changes include stronger security assessments and greater executive accountability for cybersecurity management within financial institutions.

The initiative covers the wider financial sector, including institutions operating cryptocurrency exchanges and other digital asset services.

The measures form part of South Korea’s broader effort to prevent hacking incidents and strengthen financial-sector cyber resilience.

The initiative signals tighter cybersecurity oversight for South Korean financial firms, including businesses serving the digital asset market.