Financial Security Institute Successfully Hosts Financial Information Protection Conference

At the 'Financial Information Protection Conference' held by the Financial Security Institute on the 15th at the Conrad Hotel in Yeongdeungpo-gu, Seoul, officials are taking a commemorative photo. (From the fourth person on the left in the front row: Kwon Dae-young, Standing Commissioner of the Financial Services Commission; Kim Cheol-woong, President of the Financial Security Institute; Baek Hye-ryun, Chairperson of the Political Affairs Committee; Lee Bok-hyun, Governor of the Financial Supervisory Service, etc.) Photo by XXX

[Asia Economy Reporter Eunju Lee] The Financial Security Institute announced on the 15th that it held the financial information protection conference 'FISCON 2022' at the Conrad Hotel in Yeouido, Seoul, under the theme of 'Digitalization and the Big Blur Era: Financial Security Strategies and Responses.'

The opening ceremony was attended by Baek Hyeryun, Chair of the National Assembly's Political Affairs Committee, Lee Bokhyun, Governor of the Financial Supervisory Service, Kwon Daeyoung, Standing Commissioner of the Financial Services Commission, CEOs of financial companies, and heads of related financial and information security associations and institutions. At the event, for the first time in Korea, financial ISAC experts from Korea, the U.S., and Japan gathered in one place to deliver a special lecture on global cyber threat trends. Kim Yongtae, Director of the Digital Financial Innovation Bureau at the Financial Supervisory Service, gave a keynote speech on the topic of 'Digital Financial Innovation and Supervisory Directions.'

At the conference, a total of 18 topics were presented in the fields of financial security strategy, technology, and response in the era of digitalization and the big blur. In a closed session, in-depth discussions were held on the reality and response to the dark web, trends and major defects in ISMS-P certification in the financial sector, and key information security issues by major industries for personal (credit) information trustees.

In his keynote speech, Kim Yongtae, Director of the Digital Financial Innovation Bureau at the Financial Supervisory Service, reviewed the current status of digital finance centered on big tech platforms and virtual asset transactions, and revealed supervisory directions for protecting financial consumers related to these areas. In his congratulatory remarks, Lee Bokhyun, Governor of the Financial Supervisory Service, emphasized that "as the convergence of new digital technologies and finance accelerates, the existing financial security safety nets can no longer provide assurance." He further urged that "executives, including Chief Information Security Officers (CISOs), should independently conduct information security assessments and improve vulnerabilities to strengthen their capabilities to respond to cyber security threats."

In particular, Kim Cheolwoong, President of the Financial Security Institute, stated, "At this point when the digitalization and big blur of finance have rapidly approached our daily lives, and as the first domestic occasion where financial ISAC experts from Korea, the U.S., and Japan shared global financial security issues and trends, we will strive to develop FISCON into a global financial security conference based on this momentum."

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