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A recent wave of cyberattacks on local banks is raising the stakes for an upcoming CEO reshuffle, with the heads of the country's five major lenders all set to see their terms expire at the end of the year, industry officials said Tuesday.
Summary
The incidents, some of which involved artificial intelligence (AI), are expected to put banks' cybersecurity measures under greater scrutiny during this month's parliamentary audit and weigh on decisions over whether to reappoint incumbent chiefs. Rep. Park Sang-hyuk, a ruling Democratic Party of Korea lawmaker and secretary of the National Assembly's National Policy Committee, said he would seek to summon the heads of the five major commercial banks — KB Kookmin, Shinhan, Hana, Woori and NH NongHyup — as witnesses to determine the causes of repeated data leaks.
The deadline for selecting witnesses for the Financial Services Commission audit on Thursday has already passed, making it more likely that bank CEOs could be called during the Financial Supervisory Service (FSS) audit on Oct. 17 or the committee's final audit session on Oct. 22.
KazaSec's take
AI-related security incidents are a genuinely new category, prompt injection, model manipulation, and data leakage through an LLM integration don't map cleanly onto traditional application security testing, and are worth assessing deliberately rather than assuming existing controls already cover them.
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