2026.10.30. The Fair Economy — Lee Eok-won, chair of the Financial Services Commission (FSC), directly presided over a Central Incident Command Center meeting during a training exercise that simulated a compound disaster in which a large sinkhole and a distributed denial-of-service (DDoS) attack coincided to paralyze part of a data center.
The Financial Services Commission said it held the "2026 Safe Korea Training for Disaster Response in the Financial Sector" from 2 p.m. to 3:30 p.m. on the 29th at the Korea Exchange (KRX) building in Seoul.
A total of 11 organizations took part in the drill, including the Financial Services Commission, the Korea Exchange (KRX, the lead training institution), the Financial Supervisory Service and other financial sector institutions — eight in all — as well as the Yeongdeungpo Fire Station and the Yeongdeungpo Police Station. The Financial Services Commission and KRX, working jointly with the fire station and other agencies, conducted training on recognizing and relaying disaster situations, evacuation and life-saving operations, and extinguishing a fire in outdoor air-conditioning units.
Chairman Lee reviewed the process of switching operations from a damaged computing center to a backup site, among other procedures. He said that failing to respond thoroughly to an incident at a computing center could inconvenience the public's daily lives and cause turmoil in financial markets, incurring large social costs. He also called for achieving "zero failures" so that financial services are never disrupted. KRX Chairman Jung Eun-bo said he would do his utmost to ensure that the stock and derivatives markets operate stably under any disaster situation.
The Financial Services Commission plans to incorporate the findings of the drill into its "Crisis Management Manual for Disasters Paralyzing Core National Infrastructure." It will work with related institutions to improve the manual's relevance and strengthen their ability to check risks in major systems and facilities.
According to data the Financial Supervisory Service submitted to Democratic Party of Korea lawmaker Min Byeong-deok, a total of 1,736 computer system failures were reported in the financial sector over the four years and eight months from January 2022 to August 2026. By sector, banks accounted for the most, with 565 cases. In 2025 alone, 392 cases were reported — more than one per day on average — but financial regulators imposed sanctions in only 38 cases during the same period, with fines totaling 2.1322 billion won (about $1.52 million).
Cyber threats have also spread across the financial sector since 2026. Following a breach at Shinhan Bank on September 30, 2026, seven institutions — including KB Kookmin Bank, Hana Bank, Hyundai Capital and Welcome Savings Bank — were hit by attacks in succession. Four days ago, the Financial Services Commission held an emergency inspection meeting with financial sector institutions and ordered a full re-examination of externally exposed IT assets.
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