"I Can't Even Trust Banks"... Half of Koreans Distrust Institutional Security [IT Item of the Day]

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[Financial News] Half of Korean consumers do not trust the security of banks and platform companies. As cyber threats have become part of everyday life and generative artificial intelligence (AI), including Mythos, has spread, seven in 10 Koreans said they are willing to pay directly for cybersecurity services.
According to the '2026 APAC Cyber Safety Status Report' released on the 20th by Volt Tech and market research firm Black Box, Korean consumers were found to have relatively low trust in the protection systems of outside institutions such as financial companies and platform operators. Forty-nine percent of respondents in Korea said they did not trust banks, service providers, or apps to adequately protect their personal information. That is a high level, given that the APAC average is 26%.
As a result, 67% of Korean respondents said they are willing to pay for cyber protection services that safeguard their digital daily lives. The trend shows that security is increasingly seen not as a free add-on, but as an essential safety service.
Preferences for cybersecurity services are also shifting from post-incident compensation to prevention. About 80% of Korean respondents said the most important security feature is real-time detection and alerts for personal data leaks or threats. Only 48% said they preferred financial compensation for damages.
Volt Tech said that as AI-powered phishing, account theft, and malicious link attacks become more sophisticated, consumers are also feeling a greater sense of security risk. As a result, the 'embedded protection' model, which integrates cyber protection features into everyday services, is also gaining traction.
Ko Gwang-beom, CEO of bolttech Korea, said, "This shows that Korean consumers are not merely worried about cyber risks, but are ready to take active steps and invest in protecting themselves." He added, "Based on our advanced technology and understanding of the insurance industry, we will continue to support our partner companies so they can provide protection solutions that keep customers' digital lives safe."
kaya@fnnews.com Choi Hye-rim Reporter