President Lee Jae-myung Addresses SK Telecom Hacking Incident and Market Regulations

On July 3, President Lee Jae-myung presided over the second senior secretary meeting at the presidential office in Yongsan, Seoul. During the meeting, he addressed the penalties related to the SK Telecom hacking incident, stating, "Victims should not suffer losses due to the company's fault during the contract termination process."

According to spokesperson Kang Yu-jeong, President Lee received updates on the incident's response from the National Security Office and the AI Future Planning Office. He emphasized the need for adequate compensation for the public and urged for a legal interpretation that favors the victims.

Kang noted, "Ultimately, while the implementation details remain uncertain, it is important that the interests of the public, particularly regarding the penalties for contract termination due to the SK Telecom hacking incident, are maximized."

Additionally, President Lee called for a swift response to unfair trading in the capital market, insisting that severe penalties for market disruptors should be publicly announced. He stated, "Fines for illegal short selling should be imposed at the highest level possible."

He further instructed that all available measures, including legal amendments, should be utilized to stabilize the stock market and rapidly enhance the value of the Korean stock exchange.

In a separate engagement, President Lee spoke with NATO Secretary General Mark Rutte, discussing ways to deepen the partnership between South Korea and NATO. Rutte congratulated President Lee and expressed gratitude for the South Korean government's firm commitment to cooperation with NATO, conveyed through the National Security Office, as they did not meet at the NATO summit.

President Lee congratulated Rutte on the successful NATO summit held the previous week and reaffirmed the South Korean government's commitment to strengthening the partnership with NATO amid complex global crises.