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Urgent Jeonse Loans... Seoul Guarantee's Computer System Down for Two Days

PARK Changyeong
JEONG Hojun
Input : 
2025-07-15 17:53:50
Updated : 
2025-07-15 19:55:58
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As of the 14th, it has been reported that nearly 60 billion won in jeonse loans were issued without guarantees from the five major banks (KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup) due to the computer system failure at SGI Seoul Guarantee. Currently, there is no confirmation on when the system will be restored, raising concerns that the damage caused by SGI Seoul Guarantee's computer failure may increase. As of the 15th, the computer failure has not yet been resolved.

According to the five major banks on the 15th, as of the 14th, there were 236 cases of jeonse loans issued in the form of 'pre-loan candidate certificates', amounting to 5.68 billion won. This is the first time banks have issued jeonse loans in the form of pre-loan candidate certificates.

While loans are currently being issued, the uncertainty regarding the restoration timeline has led to concerns among actual users about potential disruptions in their loans. SGI Seoul Guarantee currently provides guarantees for jeonse loans up to 500 million won, which is the highest among domestic guarantee institutions. The loan process has already become more stringent. Major banks are only providing consultations for new loans through SGI Seoul Guarantee without granting approvals. The pre-loan candidate certificate method is only available to borrowers who have passed SGI Seoul Guarantee's prior screening.

SGI Seoul Guarantee suspects that the cause of the computer failure is a 'ransomware attack'. Ransomware is a method of attack where hackers infiltrate computer systems or data, encrypt them, and then demand a 'ransom' from the affected company. Yes24, which had its services suspended last month, also suffered from ransomware. A security industry official expressed concern, stating, "If it were a private company, they might pay to restore the system, but for SGI Seoul Guarantee, that would be an impossible option." It is difficult to predict when the issue will be resolved. SGI Seoul Guarantee has not been able to provide a timeline for restoration. They stated, "We plan to fully compensate customers and companies affected by this incident once the facts are confirmed and the amount of damage is determined," and announced plans to operate a dedicated reporting center for damage claims starting on the 16th.

Previously, attacks were primarily targeted at national institutions, but there has been an increase in attacks on private companies recently. In particular, domestic financial institutions are often criticized for being potential targets for hacking due to the rare 'mandatory installation of financial security software' globally. Earlier this month, a study conducted by researchers from domestic universities, including KAIST, in collaboration with a security company found that major security programs (KSA) are actually vulnerable to hacking.

Security incidents have continued this year as well. In March, a computer failure occurred at the Korea Housing and Urban Guarantee Corporation (HUG), causing bank guarantee operations to be suspended for eight hours, and in April, a hacking incident at a corporate insurance agency (GA) led to the leakage of personal information of over 1,000 individuals, which was discovered by financial authorities. There are calls for domestic companies to enhance their security measures by utilizing cyber insurance. An insurance industry official stated, "By using cyber insurance, companies can cover not only customer compensation but also recovery costs," adding, "The subscription rate among domestic companies is still quite low compared to overseas."

[Reporter Park Chang-young / Reporter Jung Ho-jun]