South Korea’s government has initiated a comprehensive response to recent cyberattacks affecting KT Corp and Lotte Card, which resulted in significant data breaches compromising sensitive personal information. The Ministry of Science and ICT and the Financial Services Commission have pledged a thorough investigation into the incidents, with plans for major regulatory reforms to enhance cybersecurity. Notably, approximately 2.97 million customers’ data from Lotte Card was exposed, raising concerns over potential financial fraud. This situation emphasizes the need for a robust cybersecurity framework in South Korea’s telecommunications and financial sectors, highlighting the urgency for institutions to prioritize security investments amidst evolving cyber threats. The government’s proactive stance aims to hold companies accountable and mitigate future risks.