Accra:The chief of South Korea's financial watchdog has pledged to bolster cybersecurity at local financial institutions. This commitment follows recent hacking incidents that compromised approximately 100,000 cases of personal data.

According to Yonhap News Agency, Financial Supervisory Service (FSS) Governor Lee Chan-jin made this announcement during a parliamentary audit. He emphasized the urgency of addressing security vulnerabilities and promised a thorough investigation into the causes of the breaches.

Governor Lee stated that he would encourage financial institutions to enhance their internal security capabilities by utilizing artificial intelligence technologies. This approach aims to effectively counter AI-powered cyberattacks. Furthermore, Lee mentioned plans to consult with the Financial Services Commission to review measures that would motivate institutions to increase their investment in security infrastructure and personnel.

These remarks were made in response to a series of cyberattacks earlier this month that affected about 16 local financial institutions, including banks, savings banks, and insurance companies. The attacks exposed personal data such as email addresses, names, and phone numbers across the industry.