SGI Seoul Guarantee Approves 24 Out of 79 Hacking Damage Claims, Pays 11.9 Million Won in Compensation

It has been reported that SGI Seoul Guarantee paid 11.9 million won in compensation for damages caused by a ransomware hacking incident in July.

According to materials submitted by the office of Lee Jungmoon, a member of the National Assembly’s Political Affairs Committee from the Democratic Party of Korea, as of September 22, a total of 79 damage reports had been filed with the SGI Seoul Guarantee Damage Report Center, with the total amount claimed reaching 27.8 million won.

Most victims reportedly requested compensation for losses incurred due to time-related factors such as delays in moving caused by loan processing delays. There were also cases of damages resulting from delays in mobile phone service activation.

Among these, compensation totaling 11.9 million won was paid for 24 cases where the damages were verified and a causal relationship was established. Compensation is also under review for three additional cases, each claiming 300,000 won in damages.

Of the remaining 52 cases (with a total claimed amount of 15.6 million won), 38 were withdrawn by customers after the system was restored, and 14 were dismissed.

In July, SGI Seoul Guarantee’s website was down for four days due to a ransomware hacking incident. As a result, processing of guarantee services such as mortgage loans, jeonse loans, and mobile phone installment activations was delayed.

Exterior view of SGI Seoul Guarantee Insurance headquarters building. SGI Seoul Guarantee Insurance

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