Choi Ji-Won reported on Tuesday:
Seoul Guarantee Insurance, South Korea’s largest provider of guarantee insurance, has been crippled by a ransomware attack, with its core systems offline for a third straight day.
The incident began early Monday, when SGI reported an “abnormal symptom” in its database system. By Tuesday afternoon, a joint investigation by the Financial Supervisory Service and the Financial Security Institute confirmed it was caused by a ransomware breach.
As a pivotal player in Korea’s guarantee insurance industry, SGI’s disruption is generating widespread confusion and inconvenience. The insurer provides guarantees for both individuals and corporations, with a guarantee balance of 478 trillion won ($344.4 billion) as of end-2024.
Read more at The Korea Herald.
h/t, Risky Biz News