A character from Aesop's fables is an astronomer who goes out every night to observe the stars. One day, while gazing at the sky, he fell into a deep well. When a neighbor heard his cries for help and rushed over, he asked, 'Why do you seek to understand what is in the sky while neglecting what is on the ground?'
Recent hacking incidents in the financial sector bring this fable to mind. While discussions about the future of finance included AI assisting with consultations, loan assessments, and asset management, customer information was leaked from banks, savings banks, and capital companies. Evidence has also emerged that AI was used in the attacks.
What is particularly troubling is that banks, which touted advanced AI, poorly managed basic authentication for employee systems. The procedures to verify the identity and access rights of those accessing customer information were insufficient. Hackers exploited these gaps to retrieve and steal data. The fact that AI was used in the attacks should not overshadow the banks' lax security measures.
Some financial companies successfully prevented data breaches despite facing similar attacks. This was due to the functioning of basic defense mechanisms such as multi-factor authentication and access control. Multi-factor authentication requires additional verification beyond just a username and password to confirm the identity of the user. The effectiveness of existing security measures determined the extent of the damage. Banks that aim to transform the future of finance have neglected the basics of protecting today's customer information.
A similar pattern can be observed in politics, where promises to change the centralized system in Seoul are often made. If the intention is to return people and opportunities to the provinces, those in power must be prepared to relocate themselves first.
The National Assembly's Sejong Government Complex is underway. If 11 standing committees and the Special Committee on Budget and Accounts move, a significant portion of legislative and budget deliberations will also shift to Sejong. However, the plenary session hall and the Speaker's office will remain in Seoul. This creates a structure where the National Assembly's work is divided between two cities. Last month, the Speaker promised legislation for a complete relocation to Sejong, but the design process is still ongoing without the plenary session hall included. They have promised a complete relocation but have not established the conditions to build the assembly accordingly.
The complete relocation is not a new promise. During the 2024 general election, the ruling party also pledged to move the entire National Assembly to Sejong. Both ruling and opposition parties have discussed complete relocation, but actual plans remain at the branch office level. Promises have been reiterated, but the tasks to fulfill them remain.
Relocating the National Assembly involves legal issues, costs, and political agreements. It is the responsibility of politicians to resolve these complex issues and create the conditions for implementation. If the structure that concentrates power and opportunities in Seoul is to change, those in power must also take action. The call to believe in the potential of the provinces gains credibility when they choose that potential themselves.
Protecting customer information and relocating the National Assembly are different in nature and complexity. However, the underlying principle remains the same: those who advocate for a future must fulfill their responsibilities. Banks must ensure the security of existing systems as they introduce new services. Politicians, having declared a complete relocation, must address the issues that hinder it and build consensus. Failing to address these responsibilities while adding grand visions only widens the gap between promises and reality.
The astronomer in the fable lost sight of his footing and fell into the well. The costs of the responsibilities neglected by finance and politics fall on customers and citizens. This is why those who speak of the future bear a heavier burden. Even while reading the stars, one must keep their feet on the ground. No matter how far one looks into the future, they cannot skip over the responsibilities at their feet.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.