Woori Bank Holds Awards Ceremony for the 5th WooriCON Penetration Testing Competition

Woori Bank and the Financial Security Institute announced on September 24 that they held the awards ceremony for the 5th WooriCON Penetration Testing Competition at the Woori Bank headquarters in Jung-gu, Seoul.

The WooriCON Penetration Testing Competition, the first of its kind in the financial sector, was established as part of efforts to detect vulnerabilities in financial security early and prevent cyberattacks in advance. The event was attended by Woori Bank CEO Chung Jinwan, Financial Security Institute President Park Sangwon, external judges, and other key stakeholders.

The competition, held from August 18 to 29, featured a total of 24 teams and 80 university and graduate students. It was conducted in a bug bounty format, where participants searched for vulnerabilities in Woori Bank's Internet Banking and WooriWON Banking services. Participants identified actual hacking risks and security weaknesses while demonstrating their skills.

The judging panel included security experts from the Financial Security Institute, white-hat hackers, and professors from information security departments. Woori Bank evaluated the discovered security vulnerabilities based on risk level, impact, and creativity. Four teams were selected for the grand prize, first prize, excellence award, and encouragement award, with a total prize pool of 8.5 million won. Award recipients will also receive preferential treatment in the document screening process when applying for digital and IT positions at Woori Bank or the Financial Security Institute.

Meanwhile, as cyberattacks in the financial sector become increasingly sophisticated, Woori Bank is strengthening its security activities through a 24-hour real-time monitoring security control system and regular inspections by external experts, including the Financial Security Institute.

CEO Chung Jinwan stated, "The importance of financial security is growing amid a series of recent hacking incidents in the financial sector. Woori Bank will do its utmost to foster proactive security measures and nurture professional talent so that customers can use financial services with confidence."

This content was produced with the assistance of AI translation services.