South Korean Banks to Boost Cybersecurity Spending

South Korean banks, including Shinhan, Hana, and KB Kookmin Bank, are significantly increasing their cybersecurity budgets and personnel after recent hacking incidents involving AI technology.

The banks are focused on fortifying their defenses against sophisticated AI-driven cyber attacks.

KB Kookmin Bank plans to increase its cybersecurity budget to over 100 billion won in 2027, up from 86.07 billion won this year.