South Korean banks are considering higher spending on cybersecurity systems and staff after a series of hack attacks at home. According to Sina Finance, sources said Shinhan Bank, Hana Bank, KB Kookmin Bank and other major lenders disclosed incidents this month that led to customer data leaks, raising concerns about the scale of the exposure.

Shinhan Bank said on October 1 that personal information for about 25,000 customers was leaked, including names, phone numbers and annual income. According to Sina Finance, hackers used advanced artificial intelligence tools in the attack, and other banks also reported similar customer information leaks.

KB Kookmin Bank plans to raise its cybersecurity budget to more than 100 billion won in 2027, up from 86.07 billion won this year, according to the report. Shinhan Bank plans a record cybersecurity budget, while Hana Bank plans to spend several billion won next year to strengthen its security systems. The banks also plan to expand their cybersecurity teams next year.

South Korean President Lee Jae-myung ordered a full investigation into the attacks over the weekend, after which the banks announced the measures.