South Korea’s President Wants a Cybersecurity Chief After $6.3 Billion Binance Hack

President Lee Jae Myung said on Tuesday that South Korea needs a powerful cybersecurity chief to lead the country’s defenses. Speaking at a Cabinet meeting in Seoul, he pointed to the $6.3 billion Binance hack as proof that banks and critical infrastructure face a growing danger. He wants one body with the authority to coordinate both public agencies and private companies.

Binance Hack and North Korea Link

The theft took place on Oct. 29. The FBI blamed the North Korean group TraderTraitor, while Pyongyang denied any role. Lee did not mention North Korea when he talked about the attack.

AI and Cyberattack Risks

Lee said the current approach, built around inspections and responding after a breach, has clear weaknesses. He warned that AI is helping attackers become more skilled and harder to stop, and urged earlier detection and faster information sharing.

Government Security Checks Underway

The National Intelligence Service has ordered reviews at more than 2,100 government and public bodies. The science ministry is checking about 170 major private facilities, including financial and telecom firms. No date has been set for creating the new agency.

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