The Ministry of Science and ICT has organized a forum to explore ways to boost domestic security investment and advance the information security industry, following the recent SK Telecom cyber breach.
On May 22, the Ministry announced that it had held a roundtable in collaboration with the Korea Internet & Security Agency (KISA) and the Korea Information Security Industry Association (KISIA) to discuss strategies for expanding security investment and supporting the growth of the security industry.
The SKT hacking incident has highlighted the urgent need for increased cybersecurity investment by domestic companies and public institutions, underscoring the necessity of raising security investment to levels seen in advanced countries. At the same time, there is a growing need to develop concrete measures to ensure that the rising demand for security translates into the joint growth of the domestic information security industry.
The roundtable was attended by representatives from major domestic security companies, chief information security officers (CISOs) from companies in sectors such as telecommunications, finance, and media, as well as academic experts. Participants reviewed the current status and case studies of information security investment both domestically and internationally, and engaged in in-depth discussions on strategies to expand security investment, trends in security product procurement, sustainable industry growth, and directions for improving related regulations.
Ryu Jemyoung, Director-General of the Network Policy Bureau at the Ministry of Science and ICT, stated, "If domestic organizations and companies significantly increase their security investments, taking the SKT cyber breach as a lesson, and if this leads to robust growth in the security industry, it will greatly contribute to strengthening the nation's overall security capabilities and enhancing industrial competitiveness." He added, "The government will do its utmost to actively gather diverse opinions from field experts and improve relevant regulations and policies."
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