South Korea’s Lee calls for powerful govt-wide cybersecurity body

President Lee Jae Myung has called for the establishment of a powerful, government-wide cybersecurity body to coordinate functions spread across various agencies, as South Korea faces limitations in its current capacity to protect critical systems. Speaking at a cabinet meeting in Seoul, Lee highlighted the shortcomings of the existing security system, which primarily focuses on inspections and post-incident responses.

He emphasized the need for a preventive system to safeguard public services and critical infrastructure. Lee also mentioned the significant financial theft targeting Binance, the world's largest cryptocurrency exchange, although he did not explicitly name North Korea, which the FBI has attributed to the attack. North Korea denied involvement in the incident.

Lee stressed the importance of creating a government-wide task force that brings together public and private sector representatives to address the issue. He urged the formation of an influential "cybersecurity 'tsar' body" to oversee and coordinate security functions that are currently dispersed. The National Intelligence Service has launched emergency security inspections affecting over 2,100 central government ministries, local governments, and public institutions, according to Yonhap News Agency.

South Korea has experienced frequent cyber intrusions, with its financial sector recently facing attacks, and North Korean hackers have been linked to numerous previous assaults on cryptocurrency firms, banks, and government systems.