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The South Korean Foreign Ministry has initiated a training program aimed at equipping nations in the Association of Southeast Asian Nations (ASEAN) to better defend against what it describes as North Korean “crypto theft.” This effort comes amid increasing concerns over cyberattacks and illicit financial activities linked to North Korea, especially regarding cryptocurrencies.
Training Program Overview
According to an official report from the South Korean government, the Foreign Ministry’s initiative intends to “transfer its capabilities” to officials from seven ASEAN member countries. The training sessions commenced recently and are set to conclude on October 27, 2024.
The program consists of extensive training focused on enhancing cybersecurity measures to thwart potential attacks and crypto asset theft. North Korea has been accused by both Seoul and Washington of employing state-sponsored hackers to pilfer Bitcoin (BTC) and other cryptocurrencies from global exchanges.
Collaboration with ASEAN Officials
The South Korean Ministry has partnered with the Korea Information Security Industry Association (KISIA) and the Korea International Cooperation Agency (KOICA) to facilitate this training. With the rapid growth of ASEAN’s crypto markets, the ministry emphasized the importance of strengthening cyber defense capabilities to safeguard against threats originating from North Korea.
Prior to the main training sessions, participants received online pre-training from September 30 to October 8, equipping them with foundational knowledge and skills necessary for addressing the challenges posed by cyber criminals.
Concerns over North Korean Cyber Activities
South Korean officials have pointed out that North Korea generates substantial profits through illicit cyber activities. Estimates suggest that these operations yield hundreds of millions of dollars annually by targeting crypto assets. Lee Jun-il, the Director of the Korean Peninsula Policy Bureau, urged ASEAN countries to remain vigilant, highlighting the evolving nature of cyber theft and the need for effective countermeasures.
The South Korean Foreign Ministry is actively pushing for the establishment of institutional measures to prevent money laundering and enhance the cybersecurity infrastructure of local crypto exchanges across the ASEAN region.
Broader Context of Tensions
This training initiative occurs against a backdrop of escalating tensions on the Korean Peninsula, with reports indicating North Korea’s recent troop deployments to Russia amidst ongoing conflict in Ukraine. As North Korea continues to develop new strategies for cyberattacks, the South Korean ministry has committed to seeking “multifaceted and effective countermeasures” against these emerging threats.
ASEAN Member States
ASEAN, established in 1967, is composed of ten member nations: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. This collaboration marks a significant step towards regional solidarity in facing common cybersecurity challenges.
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