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| The headquarters of KakaoBank in the city of Seongnam, Gyeonggi Province / Courtesy of KakaoBank |
By Anna J. Park
KakaoBank has participated in Locked Shields 2023, the world's largest annual cyber defense exercise, as part of a unified team Korea, the internet-only bank announced on Wednesday. The NATO Cooperative Cyber Defense Center of Excellence (CCDCOE) is hosting the annual event.
Over 2,600 cyber defense experts from 38 countries have joined this year's NATO-led cyber defense drills. The exercise involves protecting real computer systems from real-time attacks and simulation of tactical and strategic decisions.
Led by the National Intelligence Service (NIS), Team Korea is composed of about 60 people from 11 institutions, from private, government and military organizations. The exercise is taking place for four days from April 18 to 21 in Tallinn, Estonia. KakaoBank is remotely joining the drill from the city of Seongnam, Gyeonggi Province, where the bank's headquarters is located.
KakaoBank gained the qualification to join the annual global cyber exercise after it excelled in FIESTA 2022 (Financial Institutes' Event on Security Threat Analysis), an annual competition on cyber defense hosted by the Financial Security Institute.
During Locked Shields 2023, the KakaoBank is taking a role to defend online financial networks and to recover them.
"KakaoBank has joined the annual global drill as a representative of local financial companies, with an aim to better counter cyberattacks that are becoming more and more sophisticated," an official from KakaoBank said. "KakaoBank will continue to devote ourselves to strengthening security capabilities by participating in local and global cyber exercises," the official added.
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