Shinhan Federation Delays Apology for Computer System Failure...Customer Confusion Ensues

It was more than three hours after the computer system failure that occurred on the 2nd when Shinhan Federation Central sent apology text messages to customers, with the official website apology statement posted the following day.

According to Shinhan Federation Central on the 3rd, the computer system failure occurred around 2:20 PM on the 2nd. Shinhan Federation explained that a temporary overload occurred during information processing between internal computer systems, causing disruptions to some financial services.

Shinhan Federation began emergency recovery immediately after the failure, and explained that the main system failures were resolved from 3:40 PM onwards, with financial services being restored sequentially.

However, based on comprehensive reporting, service disruptions continued as late as around 4 PM, with errors occurring in internet banking. Shinhan Federation states that it is difficult to confirm the exact time when all financial services were fully normalized.

Customer notification came even later.

Starting from 5:30 PM, approximately three hours and 10 minutes after the failure occurred, Shinhan Federation sequentially sent apology text messages to customers, with the transmission work continuing until the morning of the 3rd.

The apology statement was posted on the official website on the 3rd, the day after the failure occurred. This came after this news organization inquired about the circumstances of the failure and whether customers suffered damages that morning.

Notably, the system maintenance notice displayed as concluding at 10 AM remained exposed on the login screen through the afternoon, creating confusion among users.

Regarding the cause, Shinhan Federation takes the position that the 350 billion won next-generation computer network construction project cited as the culprit is unrelated to this computer system failure. A Shinhan Federation official explained that "the project is currently in the consulting stage before beginning full development."

Regarding customer damages, they responded that no separate financial losses were reported. However, verification of transaction errors and actual damages is ongoing. If damages are confirmed, necessary measures will be taken according to relevant procedures and standards, they stated.

A Shinhan Federation official said, "We will carefully analyze the circumstances and causes of this failure and make our best efforts to strengthen system stability to prevent similar failures from recurring." They added, "We plan to inspect the performance management and operational status of the computer system, and improve related systems and response procedures to respond promptly when failures occur."