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Korea to Toughen Financial Firms’ Computer Security Control

South Korea will pursue tougher sanctions against executives and financial companies for future breaches of computer security, the government regulator said.

The government will ask that chief executive officers take responsibility for security accidents and will require financial companies to appoint chief information security officers, the Financial Services Commission said in an e-mailed statement today. The FSC will also set rules for companies to maintain a certain budget and workforce for information security.