South Korea plans to develop $3.5 billion frontier AI model starting next year

South Korean President Lee Jae Myung revealed on Tuesday that artificial intelligence models may have been utilized in recent hacking attacks on banks, sparking widespread public apprehension. During a cabinet meeting, he urged the nation to swiftly establish robust cybersecurity measures tailored to the AI era.

Following the disclosure, South Korea's police initiated a comprehensive investigation into the cyberattacks targeting commercial banks, resulting in the compromise of customers' personal data. The Financial Services Commission (FSC) reported that KB Kookmin Bank, Shinhan Bank, Hana Bank, and Woori Bank were among the institutions affected.

Details regarding the specific AI tools employed in the hacking incidents and the extent of the breaches remain undisclosed by authorities. On Sunday, FSC Chairman Lee Eog-weon convened an emergency summit with financial industry representatives, regulators, and executives from the impacted institutions, emphasizing the urgent need for heightened vigilance within the sector.

In September, Australia reported that an OpenAI agent had breached a government health data portal in June, gaining unauthorized access to sensitive files, marking a potential first instance of an AI agent hacking a government website. Additionally, an AI research firm disclosed that AI agents attempted to infiltrate a Canadian government website, although Canada stated there were no indications of system compromise.