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Cybersecurity

South Korean banks weigh higher cybersecurity spending after AI-linked hacking incidents

South Korean banks are considering larger cybersecurity budgets and more staff after a series of hacking attacks on local lenders. KB Kookmin, Shinhan and Hana are preparing increases, while regulators and President Lee Jae Myung seek a thorough investigation.

AI News Feed · 2026-10-11 12:40

Shinhan Bank, Hana Bank and KB Kookmin Bank are among the major lenders that have reported leaks or exposure of customer data in hacking incidents this month, raising concerns about the potential scale of the breaches, according to Yonhap News.

Shinhan Bank said on Oct. 1 that personal information belonging to about 25,000 customers had been leaked. The data included names, phone numbers and annual incomes. The hackers reportedly used advanced AI tools in the attack, the report said. Similar leaks or exposure of customer information were also reported at other banks.

In response to the AI-linked attacks, KB Kookmin Bank plans to increase its cybersecurity budget to more than 100 billion won, or about US$74 million, in 2027, up from 86.07 billion won this year, the sources said. Shinhan Bank plans to allocate a record budget for cybersecurity, while Hana Bank plans to invest tens of billions of won in strengthening its security systems next year. The banks also plan to increase their cybersecurity personnel next year, according to the sources.

The spending plans follow a call over the weekend by President Lee Jae Myung for a thorough investigation into the attacks. The Financial Supervisory Service identified Internet Protocol addresses in 12 countries on Monday that are suspected of being linked to the AI-assisted hacking attacks. However, investigators were unable to determine the locations linked to some of the IP addresses, the report said.

Editor's Summary South Korean banks are considering bigger cybersecurity budgets and more security staff after customer data leaks at Shinhan, Hana and KB Kookmin. KB Kookmin plans to raise its 2027 cybersecurity budget above 100 billion won, while Shinhan and Hana are also preparing record or large increases. The Financial Supervisory Service has linked suspected IP addresses in 12 countries to the AI-assisted attacks, though some locations remain unidentified.