(LEAD) Lee orders review for establishment of cybersecurity task force

(ATTN: UPDATES with more remarks in last 4 paras)

SEOUL, Nov. 3 (Yonhap) -- President Lee Jae Myung on Tuesday instructed officials to consider establishing a cybersecurity task force that will be dedicated to enhancing online security amid a growing number of hacking cases affecting financial firms.

The president gave the order at a Cabinet meeting following a series of hacking attacks on local financial firms that resulted in data breaches of customer information, including most recently Mirae Asset Global Investments, crypto exchange Bithumb and Daishin Securities.

Lee's remarks also followed the high-profile hacking of Binance, the world's largest cryptocurrency exchange, which resulted in the theft of more than US$6 billion worth of cryptocurrency.

The U.S. Federal Bureau of Investigation (FBI) has since blamed North Korea for the cyber theft.

Lee called for "a comprehensive prevention system" against cybersecurity threats, saying they have worsened to the extent of posing a serious threat to the national economy and security, as well as people's everyday lives.

He said the growing sophistication and the spread of hacking techniques, fueled by the development of artificial intelligence (AI), are exposing the clear limits of the current security maintenance systems.

The president highlighted the need for discussions aimed at establishing a pan-government agency in charge of ensuring cybersecurity in both the public and the private sectors.

In particular, he instructed officials to "proactively consider the formation of a cybersecurity czar agency" that can serve as a strong and effective control tower for security management.

Lee also instructed officials to thoroughly improve any cybersecurity shortcomings involving major state institutions and key state infrastructure, such as information communications, energy and finance.

Additionally, Lee ordered speedy discussions on the government's push to restrict adolescents' use of social media services, saying, "The harmful effects (of social media on teenagers) appear to be greater than what we think."

The government is currently pushing to restrict social media sign-ups by young teens and their use of certain social media services, including algorithm-based services, as part of efforts to protect adolescents from the harms of social media.

Lee instructed Kim Jong-cheol, chairman of the Korea Media and Communications Commission, to "conduct relevant discussions thoroughly and promptly," citing similar efforts under way in Europe, Australia and Canada.

Kim said the plan needs to be pursued on the basis of social consensus, adding his agency plans to finalize it in the first half of next year after gathering public input.

pbr@yna.co.kr
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