Science and ICT Committee Holds 'Hacking Incident' Hearing... KT and Lotte Card CEOs Issue Public Apologies Amid Intense Criticism

On September 24, the National Assembly's Science, Technology, Information and Broadcasting and Communications Committee held a hearing to investigate responsibility for the recent hacking incidents that occurred at the three major mobile carriers-KT, SK Telecom, and LG Uplus-as well as at Lotte Card. At the hearing, Kim Youngseop, CEO of KT, and Cho Jwajin, CEO of Lotte Card, delivered public apologies to the nation.

During the hearing at the National Assembly, committee members from both the ruling and opposition parties questioned the circumstances of the hacking incidents, compensation measures for victims, and plans to prevent recurrence.

Kim Youngseop, CEO of KT, bowed his head in greeting at the hearing on large-scale hacking incidents in telecommunications and finance held on the 24th at the National Assembly's Science, Technology, Information and Broadcasting and Communications Committee. From the front row left, Yoon Jongha, Vice Chairman of MBK Partners; Cho Jwajin, CEO of Lotte Card; Kim Youngseop, CEO of KT. 2025.9.24 Photo by Kim Hyunmin

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Ten witnesses and reference persons attended, including CEO Kim, CEO Cho, Yoon Jongha, Vice Chairman of MBK Partners, Seo Changseok, Head of KT's Network Division, and Lee Jonghyun, Executive Vice President and Head of SK Telecom's Integrated Security Center. Kim Byungju, Chairman of MBK Partners and major shareholder of Lotte Card, did not attend the hearing, having also been absent from the National Assembly's Political Affairs Committee meeting the previous day.

During the hearing, lawmakers from both parties strongly criticized KT and Lotte Card. Hwang Jeonga, a member of the Democratic Party, said regarding the small payment fraud at KT, "This is damage of a completely different magnitude than a simple personal information leak. Actual money was stolen," adding, "KT itself should be dismantled."

She further targeted CEO Kim, saying, "Whether it is cunning or incompetence, the truth will eventually come out. Shouldn't you take responsibility for this incident and step down instead of clinging to your position?"

Lee Sanghwi, a member of the People Power Party, remarked, "2025 is the year when South Korea was completely shaken down," pointing out that "the public has suffered tremendous harm," and held CEO Kim and CEO Cho accountable.

In response, CEO Kim bowed his head and said, "I am truly sorry for causing concern and distress not only to our customers but to the entire nation due to the various incidents related to small payments." CEO Cho also stated, "As a financial company handling customers' credit information, the very fact that customer data was leaked is a significant mistake and wrongdoing. We will do our utmost to minimize consumer damage and inconvenience."

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