Koo Yun-cheol: "We will review digital asset management practices and swiftly prepare measures to prevent further data leaks"

[The Financial News] Deputy Prime Minister and Minister of Strategy and Finance Koo Yun-cheol said on the 1st, in connection with the recent digital asset data leak at the National Tax Service, "The government will work with relevant agencies, including the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS), to review the current status and management practices of digital assets held and managed by government and public institutions through seizures and other enforcement actions against delinquent taxpayers, and we will swiftly draw up and implement measures to prevent a recurrence, including stronger security management for digital assets."
On the same day, Koo stated on social media (SNS), "The government does not hold any digital assets other than those it comes to possess in the course of law enforcement procedures such as seizures."
Earlier, the National Tax Service (NTS) leaked virtual asset information while publicizing its record of seizing assets from high-value delinquent taxpayers. After some media reports said the leaked virtual assets were worth as much as 6.9 billion won, the Korean National Police Agency (KNPA) Cyber Terror Investigation Unit reportedly opened a preliminary inquiry, following a request for investigation from the NTS.
However, the NTS believes the leaked virtual assets are inactive coins with limited trading volume that are traded only on a specific exchange, so the scale of damage is unlikely to be large. Because these assets cannot readily be converted into cash, the agency assesses that any damage will be minimal.

syj@fnnews.com Seo Young-jun Reporter