Deputy Prime Minister and Minister of Science and ICT Baek Kyung-hoon stated on October 6 that the ministry will significantly increase its cybersecurity budget from 360 billion won to 520 billion won in response to the recent surge in data breaches.
Baek made these remarks during a national audit session of the Science, Technology, Information, Broadcasting and Communications Committee at the National Assembly, in response to a question from ruling party lawmaker Seo Cheon-ho regarding the ministry's responsibility in addressing cyber incidents.
He emphasized, "As of October 1, the revised Telecommunications Act allows investigations based on indications of hacking without the need for corporate reporting, which will enhance punitive and economic sanctions."
Baek acknowledged that since the law was only implemented on October 1, its effectiveness has yet to be realized, but he expressed optimism that its impact will be confirmed in the future. He also stated that the ministry will standardize incident management response manuals and take the lead in coordination efforts.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.