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Major banks plan bigger cybersecurity budgets for 2027

Major Korean banks are preparing to raise their information security spending next year following a wave of suspected artificial intelligence (AI)...

The Korea TimesJun Ji-hye查看原文 ↗
A man walks past ATMs operated by major banks in Seoul, Sunday. Yonhap
A man walks past ATMs operated by major banks in Seoul, Sunday. Yonhap

Major Korean banks are preparing to increase cybersecurity spending next year as they respond to suspected AI-driven attacks and a newly disclosed PHP vulnerability. Hana Bank plans to spend more than 100 billion won, while NH NongHyup Bank is considering a budget of about 100 billion won and KB Kookmin Bank has announced plans to exceed 100 billion won. Banks are also inspecting affected services, applying security measures and, in some cases, suspending services while addressing vulnerabilities.

Hana Bank’s planned information security budget is more than 50 percent higher than this year’s.

NH NongHyup Bank is weighing an increase of around 20 percent, while Woori Bank’s security department is considering spending about 20 percent more on related systems.

The PHP flaw could allow attackers to execute server commands without authentication, potentially exposing customer data or enabling control of a server.

The Financial Security Institute urged banks to check for affected PHP versions, install patches and investigate systems for signs of a breach.

Kookmin Bank has completed security measures for two of five relevant services and will suspend the other three while addressing their vulnerabilities.

Published Oct 25, 2026 2:21 pm KST

Emergency checks launched, affected services suspended over PHP security flaw

A man walks past ATMs operated by major banks in Seoul, Sunday. Yonhap

Major Korean banks are preparing to raise their information security spending next year following a wave of suspected artificial intelligence (AI) agent-driven cyberattacks and data breaches across the financial sector, industry officials said Sunday.

Some intend to commit at least 100 billion won ($75 million) each to bolstering cyber defenses. The lenders have also launched urgent inspections and taken certain services offline to address a recently disclosed security flaw in PHP, a programming language used to build applications that process requests on web servers, including user logins and online posts.

Hana Bank aims to earmark more than 100 billion won for information security next year, an increase of more than 50 percent from this year. Priorities include developing AI-powered defenses against cyberattacks and hiring security specialists.

NH NongHyup Bank is weighing a budget increase of around 20 percent, which would bring its spending to approximately 100 billion won.

KB Kookmin Bank has already announced plans to set aside more than 100 billion won for security next year.

At Woori Bank, the department overseeing information security is considering spending about 20 percent more on related systems. Shinhan Bank will draw up its budget in line with its medium-term information security strategy and allocate additional funds as needed.

Alongside those spending plans, banks are checking their exposure to the PHP vulnerability.

Disclosed on Wednesday, the flaw could enable attackers to execute commands on a server without authentication. If exploited, it could expose customer data or allow attackers to take control of a server.

The Financial Security Institute responded that day by urging banks to check whether they use affected versions, install patches and examine their systems for evidence of a breach. Banks running outdated versions that no longer receive security updates were advised to switch to supported releases.

Kookmin has completed security measures for two of five relevant services and will suspend the remaining three while addressing their vulnerabilities. It has also raised its security monitoring threat level.

Woori has finished securing two relevant services accessible from outside the bank.

Shinhan said its bankwide review did not uncover the flaw. Hana and NongHyup likewise reported no confirmed exposure among their relevant customer-facing services.

“Information security teams are under intense pressure as they respond to the PHP flaw while continuing to deal with the AI hacking incidents,” a commercial bank official said. “Banks are maintaining the highest level of security monitoring around the clock.”

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