[South Korea Proposes Legislation Requiring Virtual Asset Operators to Bear 'No-Fault Compensation' Responsibility for Hacker Attacks, Fines May Be Raised to 3% of Sales Revenue] According to Yonhap News Agency, the South Korean Financial Services Commission is reviewing a plan to include a clause in the upcoming 'Second Phase Virtual Asset Legislation,' stipulating that virtual asset operators must bear liability for damages in the event of hacker attacks or computer incidents, even if they are not at fault. The plan aims to impose the same 'no-fault liability for damages' on virtual asset exchange operators as financial companies to address hacker attacks or computer incidents. From 2023 to September 2025, the five major Korean won exchanges (Upbit, Bithumb, Coinone, Korbit, and GOPAX) have experienced 20 computer system incidents. Additionally, a plan is currently under discussion to increase the penalties for hacker attack incidents to the level stipulated by the Electronic Financial Transactions Act. The South Korean National Assembly is currently reviewing an amendment to the Electronic Financial Transactions Act, which proposes imposing fines of up to 3% of sales revenue on financial institutions that suffer hacker attacks. If the bill is passed, virtual asset operators may also face similar fines. Currently, the maximum fine for virtual asset operators is 5 billion Korean won.