General

Unidentified Hackers Target South Korean Financial Firms

Seoul:The attackers behind 16 of 18 suspected overseas hacking incidents against South Korean financial companies reported since 2024 remain unidentified, a lawmaker stated on Friday.

According to Yonhap News Agency, Rep. Song Eon-seok of the main opposition People Power Party highlighted data from the Financial Supervisory Service, which indicates local financial firms have reported these attacks originating overseas since 2024. Attackers have been identified in only two of these cases.

In July last year, Seoul Guarantee Insurance Co. was targeted by GUNRA, an international ransomware group, disrupting operations for 64 hours. Another attack occurred in April, when Baro Savings Bank was hit by the ransomware group INC Ransom.

Of the remaining 16 cases, 13 were associated with internet protocol (IP) addresses believed to be located overseas, although the specific countries could not be determined in three instances. The identified countries of origin included China, the United States, Bulgaria, and Vietnam, though an IP address does not necessarily pinpoint the physical location of an attacker.

Rep. Song emphasized the urgent need to establish an AI-based defense system to combat hacking attempts and develop technologies to identify attackers, as IP addresses can be easily concealed or disguised.

Additionally, several financial companies, such as Hana Bank, KB Kookmin Bank, and Shinhan Bank, experienced leaks of customer information last week, raising concerns about potential data breaches at more firms.