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On July 1, 2026, the Financial Services Commission (FSC) announced immunity measures and guidelines to support South Korean financial institutions in responding to security threats posed by frontier artificial intelligence (AI) systems such as Mitos. The FSC held an immunity review committee meeting on June 30, 2026, to deliberate and approve the measures, which represent a follow-up to a May 22, 2026 high-performance AI security threat response meeting. The immunity measures exempt financial institutions and their employees from sanctions and administrative fines when minor computer system failures occur during AI security testing or security patching, provided that rapid recovery and consumer protection measures are implemented. Eligible activities include security testing using AI for vulnerability and port scanning, automated penetration attempts, and emergency security patches addressing identified vulnerabilities. Minor system failures are defined as incidents without intentional misconduct, financial losses below 100 million won, system downtime not exceeding four hours, and customer information exposure affecting fewer than 10,000 individuals, excluding personal credit information. Financial institutions must prepare contingency plans demonstrating rapid recovery capabilities, damage containment measures, and service continuity provisions. Consumer protection measures require advance customer notification and remediation procedures. The FSC also distributed comprehensive guidelines addressing six key areas: executive accountability strengthening, vulnerability and patch management, asset and supply chain management, AI-based defense automation, financial sector coordinated response and system resilience, and breach containment systems. The guidelines recommend establishing chief information security officer (CISO)-led response teams, implementing zero-trust security frameworks, and establishing information-sharing mechanisms through the Financial AI Security Research Institute. These guidelines serve as best practices and do not impose penalties for non-compliance. The FSC indicated it will continuously update the guidelines based on ongoing AI security testing results and evolving threat landscapes.

The Financial Services Commission (FSC) of South Korea has issued a press release outlining exemption measures and guidelines for financial companies regarding frontier AI security threats. The issued press release contains: Principles prescribing administrative exemptions for minor IT incidents that occur during AI security testing or the implementation of security patches for vulnerabilities disseminated by financial authorities, provided that rapid recovery and consumer protection measures were taken. Specific rules mandating the criteria for "minor IT incidents," which include a lack of intent, financial damage under KRW 100m (US$74,800), a system outage of under 4 hours, and personal information leaks of fewer than 10,000 cases (excluding personal credit information). Provisions outlining the scope of the exemption, which covers institutional and individual sanctions, as well as administrative fines. However, penalties under the Credit Information Act will still apply in the event of a personal credit information leak. Regulations prescribing actionable guidelines for responding to frontier AI threats, emphasizing enhanced executive responsibility, systematic vulnerability and patch management, robust asset and supply chain management, and AI-based defense automation. Directives for implementing automated defense systems, advising that the level of automation and human intervention should be graded based on the risk level of the assets involved (e.g., full automation for low-risk scenarios versus requiring CISO approval for high-risk assets like core banking systems). The measures take immediate effect.

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South Korea's Financial Services Commission Establishes Immunity Measures and Guidelines for Frontier Artificial Intelligence Security Threats

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South Korean Financial Services Commission Establishes Immunity Measures and Guidelines for Frontier Artificial Intelligence Security Threats