Deep Tide TechFlow message: On July 16, South Korean media outlet EToday reported that the Financial Services Commission of South Korea announced that it has approved the 2026 recovery and resolution plans for five major financial groups—Shinhan, KB, Asiana, Woori, and NongHyup—and a total of 10 financial institutions, including their key banks, and will officially incorporate the risks of cyberattacks and “digital bank runs” into the crisis management system for large financial institutions.

The Financial Services Commission added that as the scale of online financial transactions expands, funds may quickly flow out within a short period of time. It will further refine monitoring metrics for digital bank runs to identify liquidity risks earlier. It also requires financial institutions to strengthen mechanisms for responding to cybersecurity incidents, and to consider scenarios in contingency plans in which multiple institutions simultaneously sell assets and compete for liquidity under market shocks.