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South Korean telecommunications giant KT said it will invest more than 1 trillion won ($724 million) over the next five years to fortify cybersecurity, amid heightened consumer concerns following a massive data breach at bigger rival SK Telecom.
The planned investment surpasses SKT’s 700 billion won pledge announced on July 4. SKT, the country’s largest mobile carrier, made the commitment following a large scale cyberattack and subsequent data breach of customers’ USIM data in April, prompting calls for an industrywide security overhaul.
