About Us

IMRA
IMRA
IMRA

 

Subscribe

Search


...................................................................................................................................................


Tuesday, March 31, 2015
ISRAEL’S MINISTRY OF ECONOMY CALLS ON ISRAELI INFORMATION SECURITY FIRMS TO OFFER CYBER SOLUTIONS TO KOREAN FINANCIAL MARKET

ISRAEL’S MINISTRY OF ECONOMY CALLS ON ISRAELI INFORMATION SECURITY FIRMS TO
OFFER CYBER SOLUTIONS TO KOREAN FINANCIAL MARKET
Israeli Delegation Scheduled for June will Meet Korean Government and
Financial Officials to Present Israeli Security Solutions

JERUSALEM – 30th March 2015 – The Foreign Trade Administration at the
Israeli Ministry of Economy, in cooperation with the Israel Export Institute
and the Bank of Israel, are leading a delegation of Information Security
companies to showcase their products to senior financial officials in Korea.
The event will take place on June 4th with cooperation from the Korea
Financial Investment Association, an organization representing the entire
Korean financial sector. The association has 301 members, including HSBC
Korea, Kookmin Bank, SK Securities, Kyobo Securities, Goldman Sachs and
others. Members of the delegation will hold private meetings with
distributors, financial bodies and government officials in an effort to
advance the activity of Israeli companies in Korea.

The Korean financial industry is a vibrant market with local and
international banks, insurance companies, investment houses and the Korea
stock exchange (KRX), with activity reaching $1.2 trillion. Korea has been
the target of multiple cyber-attacks in recent years including cases of
identity theft and breaches of data banks. One of the best-known attacks
focused on the Shinhan Bank, Korea's fourth largest, two years ago. During
this attack, the bank's Internet service was paralyzed for several hours. In
addition, existing regulation meant to prevent similar cyber-attacks creates
many obstacles to consumers, necessitating new and efficient security
solutions.
Representatives of the Israeli companies taking part in the delegation
organized by the Israeli Ministry of Economy - one of the main sponsors of
the event - will receive professional accompaniment by the staff of the
Foreign Trade Administration's Trade and Economic Mission in Seoul, led by
Shay Feiler.

Shay Feiler, Head of the Israel Trade and Economic Mission to Korea for the
Israel Foreign Trade Administration, said: "Cyber-security is a hot issue in
the Korean economy today following a number of attacks against the financial
industry and national infrastructures, like the attack several months ago on
a Korean nuclear reactor. The Israeli Trade and Economic Mission to Korea
decided to focus on the financial sector this year, following a decision by
the Korean government's financial regulator to invest in fortifying the
information security of financial institutions, with the aim of
significantly boosting this sector. The delegation will meet with key
integrators who serve as a bridge to the industry, to banks and to
commercial and insurance companies. The delegation will also receive an
overview from the Korean Government's cyber bureau on the country's
financial sector."

According to the Foreign Trade Administration in the Israeli Ministry of
Economy, annual trade between Israel and Korea stood at $1.982 billion at
the end of 2014, of which $625 million came from exports and $1.357 billion
from imports.
The Foreign Trade Administration at the Israeli Ministry of Economy is the
authority responsible for advancing Israel's international trade and export
policies. It operates through 41 trade missions located around the world.
The missions help Israeli exporters find partners and business opportunities
in the market where they are active.

Israeli companies interested in participating in the delegation can sign up
by April 2nd.

Search For An Article

....................................................................................................

Contact Us

POB 982 Kfar Sava
Tel 972-9-7604719
Fax 972-3-7255730
email:imra@netvision.net.il IMRA is now also on Twitter
http://twitter.com/IMRA_UPDATES

image004.jpg (8687 bytes)