South Korea Approves Crisis Plans for 10 Financial Institutions, Adds Digital Bank Run Risk

According to Etoday, South Korea's Financial Services Commission approved recovery and resolution plans for 10 financial institutions under five major financial groups—Shinhan, KB, Hana Bank, Woori, and NH Bank—while formally adding digital bank run and cyberattack risks to the crisis management framework.

The regulator plans to further enhance monitoring metrics to identify liquidity risks earlier as online financial transaction volumes grow, and will strengthen financial institutions' cybersecurity response mechanisms and crisis contingency plans against potential asset sell-offs and liquidity competition among multiple institutions.

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