South Korean Banks Boost Security After AI Hacking Leaks

Major South Korean financial institutions are ramping up cybersecurity spending and staffing following a series of AI-assisted hacking attacks in October 2026. Shinhan Bank reported that the personal data of approximately 25,000 customers, including names and annual incomes, was leaked on October 1.

In response to the breaches, KB Kookmin Bank plans to increase its cybersecurity budget to over 100 billion won by 2027. Shinhan Bank and Hana Bank are also planning record or multi-billion won investments in their security systems for the coming year.

President Lee Jae Myung has called for a thorough investigation into the attacks. The Financial Supervisory Service has identified suspicious IP addresses spanning 12 countries, while the National Office of Investigation added 15 personnel to the probe team to assist police in tracking the attackers.