South Korean Banks, Media Hacked

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By Douglas A. McIntyre Updated Published
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Worries have heightened again about unfriendly governments. The U.S. government has accused China of hacking American companies, and potentially parts of the federal government, as a mean to gather data or disrupt Internet operations.

Now South Korea, a major U.S. ally, said that its media and banks have been broken into, probably by North Korean interests. The tension between the two neighboring nations has risen sharply over the past several months.

According to the Telegraph:

Authorities in Seoul were not immediately able to pinpoint the cause of the system failures and the national security office declined to speculate on where the attack may have originated, although suspicion immediately fell on North Korea.

“Reports have been made simultaneously, so we have dispatched investigators to the scene,” an official in the National Police Agency’s cyber-terrorism department told Yonhap News.

National broadcasters KBS, MBC and YTN reported shortly after 2pm that their computer networks had inexplicably come to a complete halt. Editing equipment had also been affected, affecting broadcasts. Shinhan Bank and Nonghyup Bank reported that their systems had also been affected at the same time.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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