What cybersecurity measures did FSS Gov. Lee Chan-jin propose after the financial-sector data breaches?

Lee pledged thorough investigations into the causes of the hacking incidents and urged financial institutions to strengthen internal security capabilities with artificial intelligence technologies. He also said the FSS would consult with the Financial Services Commission on measures to encourage higher security investment and staffing.

How many Korean financial institutions were affected by the recent cyberattacks, and what information was exposed?

Around 16 financial institutions, including banks, savings banks and insurance companies, were affected. The compromised information covered about 100,000 cases of personal data, including email addresses, names and phone numbers.

Why is the Financial Supervisory Service reviewing security investment and personnel levels at financial institutions?

The review follows a series of cyberattacks that exposed personal data across the financial industry and caused public concern. Lee said stronger investment and staffing were needed to improve institutions’ ability to respond effectively to AI-powered cyberattacks.

FSS chief vows stronger cybersecurity after data breaches

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Summary

The chief of Korea’s financial watchdog pledged stronger cybersecurity at local financial institutions during a parliamentary audit on Monday. Financial Supervisory Service Gov. Lee Chan-jin said thorough investigations would address vulnerabilities exposed by recent hacking incidents. He also urged institutions to use artificial intelligence to counter AI-powered cyberattacks and consult with the Financial Services Commission on increasing security investment and staffing.

Key Facts

About 16 local financial institutions, including banks, savings banks and insurance companies, were hit by cyberattacks earlier this month.
The breaches exposed about 100,000 cases of personal data, including email addresses, names and phone numbers.
Lee said the FSS would work with the Financial Services Commission to consider measures encouraging greater investment in security and personnel.
Lee made the remarks in his opening statement at a parliamentary audit on Monday.

By Yonhap

Published Oct 19, 2026 11:30 am KST

Financial Supervisory Service (FSS) Gov. Lee Chan-jin speaks during a parliamentary audit on the FSS at the National Assembly in Seoul, Monday. Yonhap

The chief of Korea's financial watchdog on Monday pledged to strengthen cybersecurity at local financial institutions through thorough investigations into recent hacking incidents that compromised about 100,000 cases of personal data.

"The recent security breaches have caused great concern among the public," Financial Supervisory Service (FSS) Gov. Lee Chan-jin said in his opening remarks at a parliamentary audit.

"We will swiftly address security vulnerabilities through a thorough investigation into the causes."

Lee said he would encourage financial institutions to strengthen their internal security capabilities using artificial intelligence (AI) technologies to respond effectively to AI-powered cyberattacks.

"We will consult with the Financial Services Commission to review various measures aimed at encouraging financial institutions to increase their investment in security and personnel," he added.

Lee's remarks came after about 16 local financial institutions, including banks, savings banks and insurance companies, were hit by a series of cyberattacks earlier this month, exposing about 100,000 cases of personal data across the industry, including email addresses, names and phone numbers.

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