People Power Party to Hold National Policy Committee Hearing on Lotte Card Hacking Incident

Kim Doeup, Policy Committee Chairman: "Public Voices Anxiety"
"Negligence in Security Investment Due to MBK's Profit-Driven Management"

The People Power Party announced on September 19 that it will hold a parliamentary hearing at the National Policy Committee level regarding the recent Lotte Card hacking incident.

People Power Party floor leader Song Eonseok is talking with Kim Doeup, the chairman of the Policy Committee, at the floor countermeasure meeting held at the National Assembly in Yeouido, Seoul on the 19th. Photo by Yonhap News Agency

Kim Do-eup, chairman of the Policy Committee of the People Power Party, stated at the floor strategy meeting held at the National Assembly that morning, "The Lotte Card hacking incident resulted in the leakage of information from about 3 million customers. In particular, it is reported that even the passwords of 280,000 members were exposed," adding, "This means that there is a direct risk of fraudulent transactions."

He continued, "Since the leakage of personal information of 23.24 million people from SK Telecom in April, hacking incidents have been occurring one after another across industries, including KT, SGI Seoul Guarantee Insurance, and Welcome Financial Group. The public is now expressing anxiety that the entire nation has been compromised," he emphasized.

He further pointed out, "The problem lies in companies' negligence in security investment. In the case of Lotte Card, the largest shareholder, private equity fund MBK Partners, has focused on profitability, resulting in this year's investment in information security being lower than it was three years ago."

Kim stated, "The government's and financial authorities' failure to thoroughly supervise and manage cannot be tolerated. Financial authorities should not simply shift all responsibility onto companies and only impose sanctions. All efforts must be concentrated on comprehensively re-examining information security systems and fundamentally overhauling security frameworks at a national level."

Kim added, "This issue must also be reflected in the upcoming government reorganization. The People Power Party will hold a hearing at the National Policy Committee level." Currently, the chairman of the National Policy Committee is Yoon Han-hong, a member of the People Power Party.

Kim also said, "To protect the personal information and assets of the public from recurring large-scale hacking incidents, the National Assembly will thoroughly review legislative shortcomings and pursue necessary supplementary legislation."

According to Lotte Card, approximately 200GB of data was leaked in this hacking incident, resulting in the exposure of information of 2.97 million members. Among them, 280,000 had their card numbers, two digits of their passwords, and CVC numbers leaked.

This content was produced with the assistance of AI translation services.