SEOUL, October 26 (AJP) - A wave of cyberattacks that exposed roughly 100,000 personal data records at 16 South Korean financial institutions, including Shinhan Bank and Yegaram Savings Bank, has spread to the insurance sector, with Mirae Asset Life Insurance confirming Monday that customer information had been compromised in the industry's first reported hacking-related data breach.
The insurer said it detected unusual activity in some of its computer systems on Sunday and immediately launched an emergency response. The intrusion affected its customer insurance application system and parts of its website.
Working with external cybersecurity specialists, the company confirmed early Monday that personal and credit information had been leaked. However, it said it was still investigating the number of affected customers and the types of information exposed.
Mirae Asset Life said it had activated a company-wide emergency response system, blocked the internet protocol addresses used in the attack and strengthened security measures to prevent further unauthorized access.
The company also temporarily suspended access to its website to contain potential damage.
It apologized to customers and pledged to minimize the impact of the breach while restoring confidence in its information security systems.
The incident marks the latest expansion of a series of cyberattacks that have shaken South Korea's financial industry since late September.
Among the largest breaches, Yegaram Savings Bank reported that information belonging to 42,926 customers had been compromised, while Shinhan Bank confirmed a leak affecting 25,729 customers. The exposed information included names, contact details and other personal or financial information.
Other major lenders were also affected. KB Kookmin Bank and Hana Bank reported customer information leaks, while Welcome Savings Bank confirmed a breach involving 2,117 customers.
The attacks subsequently spread to smaller financial institutions. Online investment-linked finance company Mouda reported a provisional leak affecting 18,900 customers, while OK Savings Bank confirmed that 518 customers had been affected by two separate hacking incidents in October.
Saemaul Geumgo, a major community credit cooperative network, also reported that hackers had accessed personal information belonging to more than 400 customers, including names, addresses and account-related details.
On Oct. 14, the Financial Services Commission said cyber intrusions had been identified at 16 financial companies across the banking, savings bank, credit finance, online lending and cryptocurrency sectors, with approximately 100,000 personal data records exposed.
The regulator said investigators were examining whether the attacks were connected and whether artificial intelligence tools had been used to identify and exploit security vulnerabilities.
A broader security inspection of 555 financial companies also identified deficiencies at 130 institutions, including inadequate security updates and weaknesses in monitoring unauthorized access.
The latest attacks follow a series of major cybersecurity incidents elsewhere in South Korea. In 2025, a malware attack on SK Telecom exposed SIM-related information associated with about 23 million subscribers, while a separate attack on Lotte Card compromised personal credit information belonging to approximately 2.97 million customers.
Financial authorities have warned that stolen personal information could be exploited for identity theft, fraudulent loan applications and phishing scams, even when account passwords or other information needed to directly withdraw funds have not been compromised.
Mirae Asset Life also urged customers to remain vigilant against suspicious messages, phone calls and emails, particularly those impersonating the company or attempting to obtain additional personal information.
It remains unclear whether the latest attack is connected to the earlier breaches at banks and other financial institutions, or how many insurance customers may ultimately be affected.
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