South Korean President Lee Jae-myung called for the establishment of an intergovernmental cybersecurity agency to address the Binance hack.

South Korean President Lee Jae-myung, speaking at a cabinet meeting on November 3, addressed the recent multi-billion dollar cryptocurrency theft at Binance, calling for the establishment of an intergovernmental cybersecurity coordination agency to coordinate security efforts across the public and private sectors. Lee stated that the existing security system has limitations and a proactive prevention mechanism must be established. South Korea's National Intelligence Service has already conducted emergency security checks on more than 2,100 central and local government departments and public institutions. (Source: Reuters)