Financial Sector Holds Second Emergency Response Meeting Following National Information Resources Service Fire

In response to the fire at the National Information Resources Service, the Financial Services Commission (FSC) convened an emergency meeting for the second consecutive day on the 28th to assess the financial sector’s preparedness. The FSC discussed challenges facing financial services and explored measures to minimize consumer impact. Treating the incident as a 'serious' crisis, the FSC, together with the Financial Supervisory Service (FSS), related agencies, financial associations, and institutions, elevated its response system to the Central Disaster and Safety Countermeasures Headquarters, led by the FSC chairman, and is maintaining close cooperation.
On this day, Vice Chairman Kwon Dae-young presided over an emergency meeting at Government Complex Seoul from 4 p.m. for one hour, joined by the FSS, related organizations, and financial associations.
Due to the fire at the National Information Resources Service, the financial sector explained that: (1) verifying resident registration cards has become difficult, so alternative identification such as a driver’s license may be required for new account openings; (2) automatic submission of administrative information necessary for financial transactions is restricted, possibly leading to requests for additional documents; and (3) financial services related to Korea Post, which experienced system failures, such as automatic transfers, may face partial disruptions.
For example, when opening or closing an account that requires identity verification, a driver’s license may need to be submitted instead of a resident registration card. Similarly, when applying for a credit loan, income verification through the administrative network may be unavailable, requiring applicants to provide supporting income documents.
However, the emissions trading market (linked with the Greenhouse Gas Inventory and Research Center of Korea (GIR)), Internet Giro, and online payment services are expected to resume normal operations once their systems are restored.
To address these issues, the financial sector is providing detailed information about affected services to customers through pop-up pages and other means, and is guiding them on additional required documents or alternative identification methods to prevent repeated branch visits and inconvenience. During loan reviews, institutions are maximizing the use of alternative documents and verifying requirements after application submission to minimize customer disruption. In addition, each financial company has established a response center and will maintain close communication with authorities until the situation stabilizes.
Vice Chairman Kwon Dae-young emphasized, “Especially during challenging times, financial institutions must prioritize minimizing consumer inconvenience and do everything possible to ensure seamless service at the front lines.” He also urged financial companies to demonstrate swift and flexible responses to unforeseen incidents as part of their Business Continuity Plan (BCP).
He further stated, “We must ensure that no consumer harm occurs due to hacking or voice phishing (vishing) during this period of confusion, so please strengthen financial security, information protection, and countermeasures against vishing.” He added, “Financial authorities will remain vigilant and thoroughly manage the situation to ensure stable delivery of financial services until the crisis is resolved.”

gogosing@fnnews.com Park So-hyun Reporter