Business · Companies · 1 hr ago
Two banks approved for CI handling later reported data leaks
South Korea’s Broadcasting Media and Communications Commission approved 75 companies in April to create and handle customer-linkage information, known as CI.
Shinhan Bank and Woori Bank were among them.
In July, Woori Bank reported that personal data and CI for more than 17,000 people had leaked.
Shinhan Bank recently reported a leak involving personal data for 25,000 people and 97 CI records.
A law that took effect last year requires the commission to check whether organizations using CI have proper safeguards.
The commission conducted written checks at 96 businesses last year and on-site checks at 15, according to lawmaker Seo Cheon-ho, who criticized the regulator for acting only after leaks occurred.
He said the commission has not yet introduced improvements despite previously fining Lotte Card over CI safeguards; the sources give no further steps or timeline.
South Korea’s broadcasting and communications regulator approved Woori Bank and Shinhan Bank for handling customer linkage information in April.
Both banks later reported leaks involving personal information and customer linkage information, according to materials submitted to lawmaker Seo Cheon-ho.
Woori Bank reported a July leak involving personal information and customer linkage information belonging to more than 17,000 people.
Shinhan Bank recently reported a leak involving personal information of 25,000 people and 97 cases of customer linkage information.
Seo criticized the regulator for conducting limited inspections and acting after leaks, and said it had not improved its system.
- Who
- Woori Bank and Shinhan Bank, approved by South Korea’s broadcasting and communications regulator; lawmaker Seo Cheon-ho raised concerns.
- What
- Both banks received approval to generate and process customer linkage information, then reported data leaks.
- When
- The approvals were issued in April 2026. Woori’s leak was in July; Shinhan’s was reported recently, according to the October 12 article.
- Where
- South Korea.
- Why
- Seo said the leaks raised concerns about the regulator’s inspections and its response to risks in customer linkage information management.
This story does not have two clearly opposing sides.
The regulator imposed a fine on Lotte Card in September last year for violations including failure to meet its customer linkage information security obligations, confirming the risks of poor management, but it still has not prepared measures to improve the system.
The regulator selected 75 companies, including Woori Bank and Shinhan Bank, as suitable for generating and processing customer linkage information.
Woori Bank had a leak involving personal information and customer linkage information belonging to more than 17,000 people.
Yonhap reported Seo’s criticism of the regulator, citing materials it had provided to him.
- Approved companies
- 75, including Woori Bank and Shinhan Bank
- Woori Bank leak
- More than 17,000 people’s personal information and customer linkage information
- Shinhan Bank leak
- 25,000 people’s personal information and 97 cases of customer linkage information
- Regulator’s inspections
- 96 businesses received desk-based inspections last year; 15 also received on-site inspections
- Report date
- October 12, 2026
Sources
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