

Credit card details on 20 million South Koreans stolen - owlmusic
http://www.bbc.co.uk/news/technology-25808189

======
tinco
This story is worth being on the frontpage just for that picture. I know it's
a common tradition in east asian countries for people in power to be overtly
responsible for the failure of operations under their command, but just
imagine if this was a western country.

We have such a terrible culture of not owning up to problems that were within
our reach to prevent. A western leader of a company would never be that
publicly humble about a mistake of an employee, most don't even appear in the
news with a picture, if they do it's a paparazzi shot taken without their
knowledge or permission.

It all reinforces the image that our financial institutions are run by crooks.

~~~
dopamean
I've often wondered if it carries the weight we think it does over there. What
if people are bowing all the time when a mistake happens? Does it seem as
hollow as "I'm sorry" does in the States?

~~~
tinco
I don't feel "I'm sorry" is hollow at all. "We are sorry" seems hollow.
Perhaps I don't read enough papers, but do people in power often say "I'm
sorry"?

------
NnamdiJr
As a reference for anyone reading, South Korea has a population of a bit less
than 50 million. 20 million credit card details stolen means that just under
half of the country's population was affected..

There is something to be said about the drawbacks of living in such a small
but highly networked society (esp. in S. Korea where the entire country has a
particular 'small town' feel) but I do not have the energy to organize and put
my thoughts to keyboard at the moment.

~~~
nilsimsa
I'd say nearly all the population is affected since a good portion of their
population will be kids with no credit card or elderly from a generation when
credit cards were not widely used.

------
sbarre
Do other countries have the same kind of consumer protection that the western
world has in these cases?

Or are these regulations country-by-country?

~~~
cm2012
Not sure about that, but it seems like people will be protected. "In a
statement the Financial Services Commission, Korea's national financial
regulator, said: "The credit card firms will cover any financial losses caused
to their customers due to the latest accident."

