Financial Security Institute Holds 'Fiesta 2021' Awards Ceremony... 6 Teams Awarded

Kim Young-ki, President of the Financial Security Institute (center), and six teams who achieved excellent results at 'FIESTA 2021' are taking a commemorative photo.

[Asia Economy Reporter Kwangho Lee] The Financial Security Institute announced on the 27th that it held an awards ceremony for the teams that achieved excellent results at ‘FIESTA 2021,’ an event organized to strengthen cyber intrusion threat analysis and response capabilities specialized for the financial sector.

FIESTA means festival in Spanish. This year, the event reflected the latest cyber intrusion threat trends such as ransomware and Advanced Persistent Threats (APT), and was structured with scenarios similar to actual incident response processes to enhance the effectiveness of intrusion threat analysis capability verification.

A total of 156 teams (38 financial companies, 95 university students, 23 internal employees) comprising 293 participants competed from the 3rd to the 13th of last month. As a result, six teams in total were honored with awards: three teams in the financial company category and three teams in the university (graduate) category.

In the financial company category, Viva Republica received the Grand Prize, Kakao Bank won the Excellence Award, and Koscom was awarded the Encouragement Prize. In the university (graduate) category, the Party Just Strike Cat team won the Grand Prize, the CAT-Security team received the Excellence Award, and the KMP team was given the Encouragement Prize.

Kim Young-gi, President of the Financial Security Institute, said, "In response to the ransomware attacks that have been rampant domestically and internationally recently, close cooperation in analyzing and responding to various intrusion threats is very important, as countries around the world, including the United States, are strengthening international cooperation." He added, "The Financial Security Institute will closely respond to the increasingly sophisticated intrusion threats in the financial sector and will further expand and develop the intrusion threat analysis competition to equip necessary specialized analysis and response capabilities."