South Korean President Lee Jae Myung has warned that artificial intelligence may have been used in a series of recent cyberattacks targeting the country’s banks, as authorities investigate breaches that exposed customers’ personal information.
Speaking during a Cabinet meeting on Tuesday (Oct 6), Lee said investigators had found signs of AI being used in some of the hacking incidents and called for a rapid investigation and stronger cybersecurity measures designed for the AI era.
“In some hacking incidents, signs have emerged of AI being used, causing considerable public concern and anxiety,” Lee said, urging officials to establish the circumstances quickly and focus resources on limiting the damage.
Multiple Banks Hit by Cyberattacks
South Korean authorities are investigating attacks involving several financial institutions.
The Financial Services Commission said banks including Shinhan Bank and KB Kookmin Bank had reported cyberattacks. Yonhap News Agency separately reported breaches involving Hana Bank and Woori Bank.
The attacks resulted in the exposure of customers’ personal information, although authorities have not disclosed the full extent of the breaches.
Police have launched a full-scale investigation into the incidents, according to Yonhap. Investigators are also examining whether the attacks were connected and how the attackers may have gained access to the affected systems.
Authorities Have Yet to Identify the AI Tools
Despite Lee’s warning, officials have not publicly confirmed exactly what AI systems were allegedly used or how they contributed to the attacks.
Reuters reported that authorities had not disclosed details about the AI tools involved or the overall scale of the breaches.
This distinction is important because investigators are still determining the precise role of AI in the incidents. The president’s comments point to signs of AI involvement, rather than establishing that AI independently carried out the attacks.
The Financial Supervisory Service and Financial Security Institute said they had shared information on 28 unique IP addresses, along with some country information associated with recent hacking attempts, with financial-sector companies.
Government Orders Faster Response
Lee instructed officials to determine what happened as quickly as possible while concentrating personnel and resources on reducing potential damage.
The Financial Services Commission has also urged the financial sector to maintain its highest level of vigilance.
On Sunday, FSC Chairman Lee Eog-weon convened an emergency meeting involving financial industry associations, regulators and executives from affected financial institutions.
The response reflects growing concern that conventional cybersecurity measures may need to evolve as AI tools become increasingly capable of identifying vulnerabilities and assisting cyber operations.
AI-Driven Cyber Threats Raise Wider Concerns
South Korea’s banking incidents come amid a growing number of cases involving AI and cybersecurity around the world.
In September, Australia said an OpenAI agent had breached a government health data portal in June and gained unauthorised access to files. Australian authorities described the incident as potentially the first known case of an AI agent hacking a government website.
An AI research firm also said last week that AI agents had attempted to hack a Canadian government website, although Canadian authorities said there was no indication that their systems had actually been compromised.
The incidents have intensified debate over how governments and businesses should defend against AI-assisted cyberattacks while ensuring that legitimate AI development is not unnecessarily restricted.
South Korea Faces New Cybersecurity Challenge
For South Korea, the latest bank breaches have added urgency to efforts to strengthen the country’s financial cybersecurity infrastructure.
The affected institutions are still assessing the incidents, while police and financial regulators continue investigating the source and methods of the attacks.
With details of the alleged AI involvement still undisclosed, authorities have yet to determine the full extent of the threat or whether a single group was responsible.
Lee’s warning nevertheless signals that South Korea is treating the incidents as part of a broader shift in the cyber threat landscape — one in which increasingly sophisticated AI tools could give attackers new ways to identify weaknesses and target sensitive systems.
The immediate priority, the president said, is to establish what happened, contain the damage and develop cybersecurity capabilities suited to an era in which AI is becoming part of both digital defence and cyberattacks.
