Personal data of nearly 3 million customers of this credit card company leaked

Core Points - Lotte Card, a South Korean credit card company, experienced a data breach affecting 2.97 million customers, with 280,000 having sensitive data exposed that could lead to card fraud [1][2] - The company plans to issue new credit cards for affected customers, cover damages, and allocate a data security budget of 110 billion won (approximately $79.30 million) over the next five years [3] - The South Korean government, led by President Lee Jae Myung, has called for comprehensive measures to minimize hacking damage in response to the breach [4] Company Actions - Lotte Card will prioritize issuing new credit cards for the 280,000 customers whose sensitive data was leaked [2][3] - The company will provide interest-free installment services and cover any damages incurred by affected customers [3] - A budget of 110 billion won (around $79.30 million) will be set aside for data security improvements over the next five years [3] Industry Context - Data breaches are a global issue, with organizations worldwide, including in India, facing rising costs associated with such incidents [5] - The average cost of a data breach in India has increased by 13% to ₹22 crore in 2025 from ₹19.5 crore the previous year, highlighting the growing financial impact of data security issues [5]