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Korea is Emerging as an Important Economic Partner for India

Fast growing economic relations between Korea and India

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Representational Image, Source-pixabay

Feb 28, 2017: When India liberalized in 1990s, international companies were reluctant to invest in India. Korea was the first country which dared to invest in India when other countries were reluctant to take the economic risk of investing in the 1990s. Korea subsequently became the 4th largest investor during the 1990s.

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Bilateral economic relation between India and Korea is important for both India and Korea, Korea’s Trade Minister Joo Hyung-hwan had said last year, “Fostering close economic ties with India is the top priority for Korea.” Further, the Federation of Korean Industries (FKI) had said last September,  “Korea needs to deepen economic ties with India and Vietnam for its economic growth,” reported Korea Times

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Economic relations with India is important for Korea as its relation with its 3 important trading partners- US, Japan and China is declining. Relations with US are fast declining due to America’s policy of protectionism and the new policies of Trump. Historical issues with Japan and Japan’s economic stagnation, as well as Korea’s decision to deploy US missile system, has soured Korea’s relation with both these two countries, hence relations with all 3 countries have become precarious.

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In January last year, a Memorandum of Understanding (MoU) was signed between the India and Korea for establishing the platform “Korea Plus” a joint initiative of Ministry of Commerce and Industries of both countries, a platform established to promote and facilitate Korean investments.

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Few of the Korean startups are also doing business with Indian companies. Bangalore based real estate portal NoBroker had announced that it has raised $7 million (Rs 50 crore) in one round led by KTB Network, a Seoul-based VC firm in December last year. Softbank of South Korea had had led one round of funding for the Gurgaon-based True Balance, the CEO of True balance is Cheolwon (Charlie) Lee, a Korean.

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Prepared by Upama Bhattacharya. Twitter @Upama_myself

 

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Indian Education Institutions Face Cyber Security Challenge

Indian Education Institutions receive cyber threats from hackers

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Cyber crimes
Indian education institutions are hit hard by cyber crimes. Pixabay

Education domain is one of the most “at-risk” industries in India, with the sector accounting for more than 30 per cent of cyber threats targeting enterprises in the country between July and September 2019, a new report from Seqrite, the enterprise arm of IT security firm Quick Heal Technologies, said on Wednesday.

Other industries that remained at high risk included manufacturing, BFSI (banking, financial services and insurance), media and entertainment and professional services — underlining that no sector remained immune from the growing cybersecurity challenge in the country.

Between July and September 2019, Seqrite detected and stopped more than 38 million cyber threats, including ransomware, malware, virus/worm infectors, cryptojacking and exploit-based attacks.

This marks an increase of four million and 10 million over the number of threats detected in Q2 2019 and Q1 2019, respectively.

It also marked a massive year-on-year increase of 12 million over the corresponding numbers in Q2 2018, which saw 26 million threats stopped by Seqrite.

“In the face of the growing cybersecurity challenge highlighted in the report, it is important that Indian organisations across industries understand and acknowledge the heightened severity and sophistication of the threat landscape,” said Sanjay Katkar, Joint Managing Director and Chief Technology Officer, Quick Heal Technologies.

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No sector remains immune from the growing cyber security challenge in the country. Pixabay

“Deploying robust, multi-layered, and tech-backed security solutions is no longer a luxury, but a critical necessity for enterprises across the country,” Katkar added.

The emergence of sophisticated ransomware such as “LockerGoga” marked a shift from a single-screen approach to leveraging ransomware as a sophisticated payload distribution platform.

Unsecured Remote Desktop Protocol (RDP) was also targeted by ransomware such as “TFlower” to compromise the security of corporate enterprises and government agencies at scale.

Constantly evolving malware continued to use complex obfuscation techniques and attack methodologies to escape detection by conventional, signature-based cybersecurity approach.

Also Read- Amazon Introduces ‘Project Zero’ in India to Block Counterfeits

During the latest monitoring period, Trojans saw a huge surge in their adoption and were the preferred attack method deployed against Indian enterprises, with such intrusions accounting for 27 per cent of the total threats.

Other threats such as infectors (24 per cent), worms (17 per cent), PUAs (13 per cent), and cryptojacking (11 per cent) also remained popular amongst cybercriminals. (IANS)