South Korea’s financial authorities are overhauling security controls after a series of hacking incidents affecting banks, savings banks, securities firms, insurers and crypto exchange Bithumb. The Financial Supervisory Service met financial-sector associations on October 30 and is checking remediation plans submitted by firms after self-inspections, while conducting on-site inspections and audits at companies with significant data breaches. About 50,000 personal-information records were exposed at Ye Garam Savings Bank, which underwent a 10-day inspection beginning October 13 and plans to join the Financial Security Institute and strengthen its security solutions. KB Kookmin Bank’s initially reported 119 victims rose by 2,091 additional cases, prompting an extended inspection. Authorities are examining whether AI agents autonomously identified and exploited vulnerabilities and are considering a joint monitoring system, wider AI-based vulnerability checks and anomaly detection through sector associations. The Financial Services Commission will hold an AI hacking response inspection meeting on November 5 and plans to announce stronger sectorwide security measures afterward.