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The Financial Services Commission postponed its final ruling on Lotte Card's breach of 2.97 million customers' data, with a subcommittee review set for November 23 and a final decision at the December 29 plenary meeting. The case is the first in which regulators are considering a business-suspension-level penalty for an externally driven hack, setting a precedent that raises regulatory and compliance-cost overhang for Korean card issuers and financial firms holding large consumer datasets. Watch the December 29 decision: a suspension order would harden the supervisory baseline for cyber incidents and could pressure sentiment on listed Korean financials, while a fine-only outcome would signal a softer enforcement path.
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Original Source: 연합인포맥스
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