South Korean President Lee Jae-myung has directed officials to look into creating a cybersecurity task force. A wave of hacking incidents at financial firms and a massive cryptocurrency theft linked to North Korea have raised alarm over the country’s digital defenses.
Lee instructed on Tuesday, Nov. 3, 2026, during a Cabinet meeting at Cheong Wa Dae in Seoul. The proposed task force would focus solely on strengthening online security.
Cybersecurity Task Force and North Korea’s Binance Heist
The directive follows a string of attacks on domestic financial companies that exposed customer data. The most recent targets were Mirae Asset Global Investments, cryptocurrency exchange Bithumb, and Daishin Securities.
It also comes after the hacking of Binance, the world’s largest crypto exchange, in which more than US$6 billion in cryptocurrency was stolen. The U.S. Federal Bureau of Investigation (FBI) has since attributed the theft to North Korea, which gives the incident a national security dimension beyond financial crime.
Lee said cyber threats have grown severe enough to endanger the national economy, national security and the daily lives of ordinary citizens. He called for “a comprehensive prevention system” to address them.
According to the president, hacking methods are becoming more sophisticated and widespread, driven partly by advances in artificial intelligence (AI). He said this trend is exposing clear limits in the systems currently used to maintain security.
A Possible “Czar Agency” Amid North Korea Threats
Lee’s plans go further than a single task force. He stressed the need for talks on setting up a pan-government agency responsible for cybersecurity across both the public and private sectors.
He specifically told officials to “proactively consider the formation of a cybersecurity czar agency” that could act as a strong and effective control tower for security management.
The president also ordered officials to thoroughly fix security weaknesses at major state institutions and key national infrastructure, naming information communications, energy, and finance. Because hackers tied to North Korea have repeatedly targeted financial assets, the finance sector is a particularly pressing concern.
Social Media Limits for Teens Also on the Agenda
Cybersecurity was not the only digital issue raised at the meeting. Lee also called for quick discussions on the government’s plan to restrict adolescents’ use of social media.
“The harmful effects (of social media on teenagers) appear to be greater than what we think,” Lee said.
The government is pursuing measures to limit social media sign-ups by young teens and to restrict their use of certain services, including algorithm-based ones. The goal is to shield adolescents from the harms of social media.
Lee told Kim Jong-cheol, chairman of the Korea Media and Communications Commission, to “conduct relevant discussions thoroughly and promptly.” He pointed to similar efforts already under way in Europe, Australia and Canada.
Kim replied that the plan should be pursued on the basis of social consensus. He said the commission intends to gather public input and finalize the measures in the first half of next year.
Officials will now weigh whether to form a cybersecurity task force and a broader czar agency. Their decisions will shape how South Korea responds to escalating digital threats, including attacks attributed to North Korea.
