As a nationwide wave of hacking incidents hits the financial sector, financial authorities are holding consecutive working-level meetings with the industry to urge the prompt establishment of security improvement measures.

According to financial authorities and the financial sector on November 1, the Financial Supervisory Service (FSS) convened working-level meetings by industry association on October 30 to discuss countermeasures against hacking.

The authorities are reviewing plans to establish joint artificial intelligence (AI)-based security monitoring systems centered around industry associations and central federations.

In addition, financial institutions that have completed self-assessments using security checklists are reportedly required to submit improvement plans for identified deficiencies, with their implementation status subject to regular inspections.

In particular, on-site inspections and examinations are being carried out sequentially, starting with financial companies that suffered significant data leaks from hacking, and instructions have been given to formulate corrective measures.

Even before the series of hacking incidents from late September to early October—which affected Shinhan Bank, KB Kookmin Bank, Hana Bank, BNK Busan Bank, Yegaram Savings Bank, Welcome Savings Bank, OK Savings Bank, and Hyundai Capital—could be fully addressed, subsequent hacking breaches were successively confirmed at Daishin Securities, Bithumb, and Mirae Asset Global Investments.

For Yegaram Savings Bank, which suffered significant leak damage involving approximately 50,000 cases of personal information, on-site inspections were completed over a period of about ten days starting from October 13, and the company was asked to submit a response containing improvement measures.

The company is preparing to register as a new member of the Financial Security Institute and swiftly push forward with vulnerability improvements, strengthening monitoring systems, and enhancing security solutions.

In the insurance sector, the General Insurance Association of Korea and the Korea Life Insurance Association are supporting company-level responses to hacking accidents.

Their role is to share necessary security issues with member companies and to assess and disseminate information on damage conditions from other sectors.

Except for Mirae Asset Life Insurance, no other insurance companies have reportedly reported information leaks due to hacking so far.

The Financial Supervisory Service originally planned to wrap up its on-site inspection of Mirae Asset Life Insurance by October 30, but extended the period upon determining that additional verification was necessary.

The ongoing examination of KB Kookmin Bank has also been extended to look into the circumstances surrounding the addition of newly identified leaked personal information cases.

KB Kookmin Bank initially stated that 119 people were affected, but later announced that an additional 2,091 individuals had been identified.

Financial authorities presume that AI agents were utilized in the recent series of hacking attacks and are continuing their related investigations.

An official from the authorities stated, "(Investigations into AI utilization take a long time, but) what is undeniable is that hacking utilizing AI is right upon us, and we must prepare quickly."

In response, the authorities are looking into ways to comprehensively expand the application of AI to defense systems, such as security monitoring and vulnerability checks, to fend off AI-driven attacks.

The Financial Services Commission (FSC) plans to hold an AI hacking response inspection meeting on November 5 with the FSS, the Financial Security Institute, related ministries, associations across all financial sectors, and the heads of the five major commercial banks, and will announce countermeasures soon.