Top executives to face sacking over future data leaks in Seoul

South Korea's financial regulator on Wednesday unveiled a set of measures to better protect clients from data breaches, including a regulatory framework under which top executives at financial firms could face suspension or dismissal. The measures also include strengthened monitoring of staff at financial firms and their contractors in areas related to data protection, and strictly regulating sharing of customer information between affiliates. In cases of data breaches, financial firms will face hefty penalties and suspension of business, according to the Financial Services Commission, the country's financial regulator.