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Finance

Financial sector hacking spreads, delays gain support for digital asset tax postponement

A string of hacking incidents in South Korea’s financial sector has led to confirmed personal data leaks at savings banks and mutual finance groups, prompting authorities to step up inspections and security requirements. Banks are moving to raise cybersecurity spending and expand fraud prevention systems using AI. Market volatility and a steep stock selloff also drew a policy response. Political debate intensified over postponing digital asset taxation and regulating exchange shareholders.

Finance

Audit 2026: Lawmakers rap five big bank CEOs over hacking response, compensation and loan rates

Chief executives of South Korea\'s five biggest banks faced sharp questioning at a National Assembly audit over loan-rate calculations, personal data leaks and consumer protection. Lawmakers alleged banks offset cuts in add-on rates mandated by a legal revision by reducing preferential rates to raise interest income. KB Kookmin Bank and NH NongHyup Bank were pressed on rate adjustments. KB Kookmin also faced scrutiny over its initial response to a hacking incident, while lawmakers criticised unspent security budgets and compensation systems.

Industry

Smilegate Hope Studio provides medical support for Vietnamese children with cleft lip and palate

Smilegate Hope Studio said on Oct. 19 it carried out medical support and volunteer work for children with cleft lip and palate at Da Nang Women and Children\'s Hospital in Vietnam from Oct. 15 to 17 with the Yonsei University Health System. A team of 21, including 13 medical staff and creators from volunteer group Crayon, joined the programme. The initiative also ran a children’s activity programme and will operate a funding campaign through Nov. 10.