• The Journal of Information Systems
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• v.27 no.1
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• pp.193-224
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• 2018

Purpose Targeting Korean companies listed on Korean securities markets (i.e., KOSPI and KOSDAQ markets), this study aims to shed lights the effects of personal information security breaches on stock prices of information security companies. Interestingly, this study is, to the best of our knowledge, the first to examine the information transfer effect on personal information security breaches of companies. Design / Methodology /Approach To examine the information transfer effect of personal information security breaches, our study employs the event study commonly used in financial studies. To this end, we investigate a variety of events of personal information security breaches of companies listed on the KOPSI stock market and the KOSDAQ market. We collect the total samples of one hundred and twelve with forty seven of events of personal information security breaches by thirty companies and sixty five of information security companies. Findings The principal findings from the empirical study are as follows. First, for companies of personal information security breaches, our event study presents the significantly negative AAR (averaged abnormal return) value on the event day at the 5 % level and the highly significant negative CAAR(cumulative averaged abnormal return) value on the event day and the day after the event day at the 1 % level. The results suggest that personal information breaches significantly contribute to an decrease in value of the information breached companies. The cross sectional regressions in this study estimate the significantly negative coefficient for the ME/BE variable, the proxy for a growth opportunity at the 5 % level. This suggests a reverse relation between the growth opportunity of companies and their value. As for the various samples of the information security companies categorized by physical security, network and system security, security application software, code authentication, system integration, we find the significantly positive AAR on the day after the event day at the 5% level, only for the network and system security-companies. This addresses that the information transfer effect followed by personal information breaches is uniquely observable for companies categorized into network and system companies. The regressions for the network and system companies estimate the significantly positive coefficient for the NS dummy variable (i.e., the dummy of the network and system security companies) at the standard level. This allows us to identify appropriate times needed to make the information transfer effect realized from personal information breached companies to information security companies.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.19 no.4
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• pp.63-75
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• 2009

Recently personal information security breaches by unauthorised access, mistakenly disclosure or stolen become more frequent and the scale of the economic loss of such incidents is growing. Assessing economic loss of personal information security breaches is needed for decision making of information security investment This paper presents a framework to analyze economic impact of personal information security breaches and develops formula for each element to empirically calculate the economic loss. We also compared annual economic loss of Korea with that of Japan to develop some implications.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.28 no.1
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• pp.199-213
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• 2018

Since 2008, large-scale personal information breach incidents have occurred frequently. Even though national education, policy, and laws have been enacted and implemented to resolve the issue, personal information breaches still occur. Currently, individuals cannot confirm detailed information about what personal information has been affected, and they cannot respond to the breaches. Therefore, it is desirable to develop various methods for preventing and responding to personal information infringement caused by breach and leakage incidents and move to privacy protection behaviors. The purpose of this study is to create understanding of personal information security and information breach, to present services that can prevent breaches of personal information, to investigate the necessity of and analyze the potential public demand for such services, and to provide direction for future privacy-related information services.

• Journal of Multimedia Information System
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• v.7 no.3
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• pp.215-220
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• 2020

Many state agencies and companies collect personal data for the purpose of providing public services and marketing activities and use it for the benefit and results of the organization. In order to prevent the spread of COVID-19 recently, personal data is being collected to understand the movements of individuals. However, due to the lack of technical and administrative measures and internal controls on collected personal information, errors and leakage of personal data have become a major social issue, and the government is aware of the importance of personal data and is promoting the protection of personal information. However, theory-based training and document-based intrusion prevention training are not effective in improving the capabilities of the privacy officer. This study analyzes the processing steps and types of accidents of personal data managed by the organization and describes measures against personal data leakage and misuse in advance. In particular, using Capture the Flag (CTF) scenarios, an evaluation platform design is proposed to respond to personal data breaches. This design was proposed as a troubleshooting method to apply ISMS-P and ISO29151 indicators to reflect the factors and solutions to personal data operational defects and to make objective measurements.

• Journal of Korea Multimedia Society
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• v.18 no.2
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• pp.178-188
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• 2015

The proliferation of devices such as tablets and smart phones, which are now used by many people in their daily lives, has led to a number of companies allowing employees to bring their own devices to work due to perceived productivity gains and cost savings. However, despite many advantage, security breaches (e.g., information leakage) can happen for various reasons (e.g., loss or theft of devices, and malicious code) and privacy breaches can happen by using personal devices for business. We should carefully scrutinize security threats in this area. We present the security threats analysis and the technical approach in this area, and discuss privacy threats and countermeasures.

• Electronics and Telecommunications Trends
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• v.37 no.4
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• pp.36-45
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• 2022

As the interest in achieving an intelligent society grows with the fourth industrial revolution's development, information and communications technologies technologies like artificial intelligence (AI), Internet of Things, virtual reality, information security, and blockchain technology are being actively employed in different fields for achieving an intelligent society. With these modifications, the information security paradigm in industrial and public institutions, like personal sensitive data, is quickly changing, and it is exposed to different cyber threats and breaches. Furthermore, as the number of cyber threats and breaches grows, so does the need for rapid detection and response. This demand can be satisfied by establishing cyber training programs and fostering experts that can improve cyber security abilities. In this study, we explored the domestic and international technology trends in cyber security education and training facilities for developing experts in information security. Additionally, the AI technology application in the cyber training ground, which can be established to respond to and deter cyber threats that are becoming more intelligent, was examined.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.26 no.1
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• pp.275-283
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• 2016

Currently Internet and IT infrastructure of Korea has maintained the world's highest levels. But in another aspect, security incident, especially personal information breaches occur frequently. As personal information leakage happened, the companies will be negatively affected. And to prevent this, they have implemented to use a variety of security solutions from information security vendors. Therefore we set up hypotheses that the companies experienced personal information leakage as well as information security companies providing security solutions will be affected by the leakages. So this paper verify hypotheses about the impact of the value of information security companies, through analysing stock price fluctuation of the companies. We found that the stock price of information security companies has increased as personal information leakage happened. And differences according to leakage volumes and types of business are not statistically significant. But there are significant differences according to business classification of information security companies.

• International journal of advanced smart convergence
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• v.10 no.4
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• pp.22-29
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• 2021

For web application vulnerability diagnosis, from the development stage to the operation stage, it is possible to stably operate the web only when there is a policy that is commonly applied to each task through diagnosis of vulnerabilities, removal of vulnerabilities, and rapid recovery from web page damage. KISA presents 28 evaluation items for technical vulnerability analysis of major information and communication infrastructure. In this paper, we diagnose the vulnerabilities in the automobile goods shopping mall website and suggest security measures according to the vulnerabilities. As a result of diagnosing 28 items, major vulnerabilities were found in three items: cross-site scripting, cross-site request tampering, and insufficient session expiration. Cookie values were exposed on the bulletin board, and personal information was exposed in the parameter values related to passwords when personal information was edited. Also, since the session end time is not set, it was confirmed that session reuse is always possible. By suggesting security measures according to these vulnerabilities, the discovered security threats were eliminated, and it was possible to prevent breaches in web applications and secure the stability of web services.

• Journal of Information Technology Applications and Management
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• v.23 no.1
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• pp.79-96
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• 2016

As numerous security breaches on a variety of information assets such as personal information, corporate secrets, computer servers, and networks have occurred, information security has emerged as a critical social issue. However, researches on economically rational information security decision-making have been few. Such researches are especially rare in South Korea where information security is considered to be a discipline of engineers. This study aims to identify the preferred themes and methodologies of information security economics research in the field of information systems by reviewing papers published in Management Information Systems Quarterly (MISQ), Information Systems Research (ISR), European Journal of Information Systems (EJIS), Management Science (MS), and Information and Management (I&M). We hope that the results of the study will be helpful in rational managerial or policy decision-making for practitioners and suggest future research topics for researchers.

• Journal of Information Technology Services
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• v.19 no.2
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• pp.37-47
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• 2020

A significant proportion of information subjects experience information security breaches, and the number of reports and counseling cases of personal information infringements is increasing. Increased awareness of the importance of information security has raised interest in the personnel in charge of such tasks. However, hiring excellent new workers and preventing turnovers in information security remain unresolved. In this paper, by modeling the job career path of information security workforce as a Markov chain, we analyze the workforce turnover process and long-term turnover trends by information security jobs, and further analyze the number and duration of turnovers required to engage in specific jobs. The results of this study are expected to be a reference to balancing the supply and demand of information security workers for the government and to ensuring efficient management of the workforce for businesses.