South Korea plans to invest 1.1 trillion won ($827.1 million) in the information security field by 2027, nearly double the total budget of 556.9 billion won over the past four years.
The goal is to raise the size of the domestic industry to 30 trillion won, create at least one cybersecurity unicorn company, and establish a related fund worth 130 billion won.
The Ministry of Science, Information and Communications announced these measures on Tuesday under its strategy to ensure global competitiveness in this sector. The main project mentioned was the creation of a domestic safety zone connecting Songpa-gu, Seoul, Pangyo New Town in Seongnam, Gyeonggi-do, which is a mecca for domestic startups, Busan, Ulsan, and Gyeongsangnam-do.
Other projects include attracting a global cybersecurity think tank to Songpa-gu, setting up a test bed, expanding a cyber attack and defense training center in Pangyo, and expanding to the southeast of Centum City, Busan’s business district. Examples include designation as a regional base.
The proposed fund will target cybersecurity startups integrating promising new technologies such as artificial intelligence and quantum-secure communications. The Zero Trust (ZT) implementation roadmap for network security strategies also aims to overcome the limitations of traditional firewall-based cybersecurity.
ZT constantly verifies the identity of all connected devices, based on the assumption that attacks on the network can occur at any time. Demand for this technology is increasing with the expansion of cloud systems, home working and remote work, and the diversification of business terminals such as desktop PCs, tablet PCs, and smartphones.
Write destination Kim Jin-won jin1@hankyung.com