The government has vowed to quickly resolve a series of recent security breaches at major South Korean firms. 

During a joint briefing on Friday, the Ministry of Science and ICT and the Financial Services Commission(FSC) pledged to do their utmost to swiftly deal with the aftermath of multiple digital incidents.

The pledge follows widespread reports of micropayment fraud targeting subscribers to KT, South Korea's No. 2 mobile carrier, as well as a data breach at Lotte Card.

Ryu Je-myung, second vice minister of science and ICT, said that a joint private-public team will quickly and thoroughly analyze the cause of the KT breach and disclose the results. 

Ryu said that the government will strengthen the penalties, including fines, for companies that fail to report or intentionally delay the reporting of data breaches.

The vice minister added that the government will improve regulations so that it can investigate suspected digital attacks based on confirmed evidence, even if an impacted firm has not reported an incident.