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.

NH Nonghyup and local agricultural cooperatives came under scrutiny at a parliamentary audit over weak internal controls and budget practices. Lawmakers said NH failed to report six cases with clear criminal suspicions among 21 employee incidents in 2022 and cited a local co-op case in which an employee allegedly embezzled 130 million won but received early retirement pay. Other lawmakers questioned large unallocated budgets and alleged diversions to publicity spending. Chairman Kang Ho-dong denied involvement in a high-priced souvenir purchase case involving secretariat staff.