South Korea's Lee Jae-myung orders probe into bank customer data leaks
In short
South Korean President Lee Jae-myung ordered a thorough investigation into a series of personal data leaks at banks and public institutions, his office said on 4 October. Financial authorities said about 25,000 Shinhan Bank customers' information leaked, including names, income and loan limits, and that 119 KB Kookmin Bank customers' credit data was exposed. Regulators convened an emergency meeting with banks the same afternoon.
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South Korean President Lee Jae-myung ordered authorities to conduct a thorough investigation into recent personal data leaks at financial and public institutions and to draw up response measures, his office said on 4 October. Chief presidential spokesperson Kang Yu-jung said Lee had received a report on the leaks and on the official response and told the relevant agencies to treat the matter seriously. [ 2 , 3 ]
Financial authorities and the financial industry said about 25,000 Shinhan Bank customers' personal and financial information leaked, including names, contact details, annual income and loan limits, after a query service used by a loan recruiter was attacked. KB Kookmin Bank reported that 119 customers' personal credit information was exposed. IT Home, citing Yonhap, put the Shinhan figure at 25,729 customers and said the system used for loan agency inquiries was attacked for three consecutive days from 28 September. [ 1 , 2 , 3 ]
IT Home listed further incidents: Hana Bank reported 89 customers affected on 30 September, the same day KB Kookmin disclosed its breach; BNK Busan Bank found 11 outsourced developers' personal information leaked on 1 October; and Woori Bank and NH Nonghyup Bank detected abnormal external access attempts. Savings banks and loan companies were also hacked, it said. No other document in this set covers those institutions or gives figures for them. [ 3 ]
Financial Services Commission Chairman Lee Eok-won and Financial Supervisory Service Governor Lee Chan-jin convened an emergency meeting that afternoon at the central government building in Seoul with the heads of financial industry associations and the chief executives of the companies affected, IT Home reported. Financial authorities also decided to gather bank officials to hear their views, inspect information security and discuss remedies, Yicai and CLS reported. [ 1 , 2 , 3 ]
Yicai reported that leaks have spread across industries in South Korea this year, following incidents at telecoms companies, retail and shopping platforms, and then online video services, payment systems, medical aesthetics platforms and banks. It said some of the incidents may originate in artificial intelligence technology and that leaked data, if combined and processed, could cause secondary harm, without identifying which cases involved AI. CLS noted that large-scale leaks also occurred last year at telecom companies, card companies and e-commerce platforms. [ 1 , 2 ]
Why it matters
The leaks touch several of South Korea's largest banks and follow large-scale breaches at telecom, card and e-commerce companies last year, putting pressure on financial regulators to tighten oversight. Yicai reported that some incidents may originate in artificial intelligence technology and that combined leaked data could cause secondary harm, though it did not identify which cases involved AI.
Key facts
- President Lee Jae-myung ordered a thorough investigation into the leaks and measures to respond, his office said. [ 2 , 3 ]
- About 25,000 Shinhan Bank customers' personal and financial information leaked, including names, contact details, annual income and loan limits. [ 1 , 2 ]
- IT Home put the Shinhan figure at 25,729 customers and said the affected system was attacked for three consecutive days from 28 September. [ 3 ]
- KB Kookmin Bank reported that 119 customers' personal credit information was exposed. [ 1 , 2 , 3 ]
- The financial sector said the Shinhan leak came through an attack on a query service used by a loan recruiter. [ 1 , 2 ]
- Hana Bank reported 89 customers affected, and BNK Busan Bank found 11 outsourced developers' information leaked on 1 October, according to IT Home. [ 3 ]
- Woori Bank and NH Nonghyup Bank detected abnormal external access attempts, and savings banks and loan companies were also hacked, IT Home reported. [ 3 ]
Confirmed by several sources
- President Lee Jae-myung ordered a thorough investigation and response measures over the personal data leaks. [ 2 , 3 ]
- Shinhan Bank customer information leaked after an attack on a query service used by a loan recruiter; the financial sector put the figure at about 25,000 customers. [ 1 , 2 , 3 ]
- KB Kookmin Bank reported that 119 customers' personal credit information was compromised. [ 1 , 2 , 3 ]
Still unclear
- The exact number of Shinhan Bank customers affected. Yicai and CLS said about 25,000, while IT Home said 25,729.
- Whether artificial intelligence technology was involved in any of the leaks. Yicai said some incidents may originate in AI but did not identify the cases or provide evidence.
- The scale of losses at savings banks, loan companies, Woori Bank and NH Nonghyup Bank. Only IT Home mentioned hacks and abnormal access attempts, without figures.
- What the emergency meeting convened by financial regulators decided. Only IT Home reported the meeting and it gave no outcome.
- The total number of customers affected across all institutions. The documents give figures for some banks only.
What local media are saying
Timeline, local time
- Attacks begin on Shinhan Bank's system used for loan agency inquiries and continue for three consecutive days, according to IT Home. [ 3 ]
- KB Kookmin Bank says its mobile business support system was attacked and 119 customers' information stolen; Hana Bank reports a leak involving 89 customers the same day. [ 3 ]
- BNK Busan Bank finds 11 outsourced developers' personal information leaked. [ 3 ]
- President Lee Jae-myung orders a thorough investigation and response measures; chief presidential spokesperson Kang Yu-jung announces it. [ 2 , 3 ]
- Financial Services Commission Chairman Lee Eok-won and Financial Supervisory Service Governor Lee Chan-jin convene an emergency meeting in Seoul with financial association heads and chief executives of affected companies. [ 3 ]
- Yicai publishes its report on the leaks. [ 1 ]
- CLS reports the presidential order. [ 2 ]
- IT Home publishes its report on the attacks. [ 3 ]