Police have converted the recent financial institution hacking incident into a formal investigation.

The National Office of Investigation under the Korean National Police Agency announced that it has booked the case under charges of violating the Act on Promotion of Information and Communications Network Utilization and Information Protection, and formed a dedicated investigation team consisting of 28 personnel across four teams.

Police also stated that they have requested an official interpretation from the Financial Services Commission to determine whether the hacked system qualifies as electronic financial infrastructure, in order to decide whether the case must be reported to the Serious Crime Investigation Agency.