South Korea has launched a full-scale investigation into personal data breaches across its financial industry. President Lee Jae-myung ordered a thorough probe on Sunday, October 4, after cyberattacks hit Shinhan Bank, KB Kookmin Bank, Hana Bank and Woori Bank. The attacks compromised data belonging to more than 60,000 people and affected non-bank firms, including Hyundai Capital.
The Financial Services Commission (FSC) held an emergency meeting with regulators and executives from the affected firms. FSC Chairman Lee Eog-weon called for the highest level of vigilance and ordered comprehensive security inspections across the industry.
Authorities are investigating whether artificial intelligence was used in the attacks. The breaches have prompted calls to strengthen the sector’s cybersecurity framework against sophisticated AI-driven threats. Officials are treating the situation as a sign of broad vulnerabilities, not an attack on a single institution.