Major banks plan bigger cybersecurity budgets for 2027
Major Korean banks are preparing to raise their information security spending next year following a wave of suspected artificial intelligence (AI) agent-driven cyberattacks and data breaches across the financial sector, industry officials said Sunday. Some intend to commit at least 100 billion won ($75 million) each to bolstering cyber defenses. The lenders have also launched urgent inspections…
Major Korean banks are set to allocate larger sums for information security in 2027, in response to a surge in cyberattacks and data breaches attributed to artificial intelligence (AI) agents, industry officials announced on Sunday. Several institutions plan to invest at least 100 billion won ($75 million) to enhance their cyber defenses.
Concurrently, the banks have initiated immediate investigations and temporarily shut down certain services to tackle a recently disclosed vulnerability in PHP, a programming language employed for constructing web applications that handle user logins and online content.
Hana Bank intends to set aside more than 100 billion won for information security next year, marking an increase of over 50% compared to this year. The bank's priorities encompass the development of AI-driven defenses against cyberattacks and the recruitment of security experts. NH NongHyup Bank is contemplating a budget hike of approximately 20%, which would elevate its security expenditure to roughly 100 billion won.
KB Kookmin Bank has already disclosed intentions to allocate over 100 billion won for security measures in the upcoming year.
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- Major banks plan bigger cybersecurity budgets for 2027 koreatimes.co.kr
