00:00strategic moves in korea's corporate world are pointing in very different directions today
00:04let's start with a single question for the board who holds your company's most sensitive data
00:08and how exposed is over 110 000 small and mid-sized companies in korea rely on one
00:14software provider to run their books the breach at dozone bison exposed more than accounting
00:18records it's tuesday october 27th let's look at a business story shaping corporate korea dozone
00:24bison one of korea's largest enterprise resource planning providers has been hit by a series of
00:29hacking incidents its tools handle ledgers payroll and tax filings for small and mid-sized firms the
00:35ministry of science and ict has formed a joint investigation team the first such move since the
00:41taving breach in june here's what the numbers show dozone bison's smart a10 and apo backup services
00:45were both affected attackers used a vpn account belonging to an employee to enter internal systems
00:51the company reported the incident to kisa on october 16th and later found anomalies in its backup service
00:57reported again on october 21st encrypted backup data appears to have left the system sales purchase
01:03records supplier information and payroll files may all be at risk researchers warn that backup
01:09management servers can hold credentials that open access to other systems a single vulnerability at a
01:14shared vendor can expose many clients at once so what does this mean for ceos whose finance and hr
01:19functions run on third-party platforms your vendor risk is now a board level risk earlier we said that a
01:25single vendor breach can reach many companies at once here's what that actually means for you
01:29map every system that stores payroll and tax data and ask your vendors in writing how their backups are
01:34encrypted and where their credentials are stored here's the second story korea's chipmaker sk hynex is
01:39preparing what could be its largest shareholder return ever the company is reportedly weighing a
01:44first special dividend possibly funded in part by about 20 trillion won from its keoxia stake sale
01:49analysts expect shareholder returns of 70 to 120 trillion won this year the goal is to restore
01:55investor confidence and push market value toward the 2000 trillion won target set by its chairman
02:00here's the third pressure point chinese low-priced imports are squeezing korea's electric vehicle
02:05steel refining and petrochemical industries chinese electric vehicles now account for 38.1 percent of
02:11domestic ev sales up from 4.7 percent in 2022 industry groups are asking the government to extend
02:18production tax credits to their sector steel imports from china made up 62 percent of korea's steel imports
02:23last year industrial electricity prices rose 75.8 percent between early 2022 and late 2024 and the
02:31fourth story bosco faces its first indefinite strike in company history the union is seeking a 7.1
02:36base pay increase management has offered 2.5 a full strike would begin on november 2nd unless talks
02:43succeed first here's what the numbers show on currency the one dollar exchange rate swung more
02:48than 241 between its june peak and october low annual volatility reached 10.1 the highest since 2015
02:55for automakers every 10-1 move can shift annual operating profit by roughly 200 to 300 billion won
03:01so what does this mean for leaders making decisions this quarter three things stand out first your data and
03:06vendor exposure is a governance issue not just an it issue second shareholder pressure and market
03:12valuation are reshaping capital allocation at the largest companies third labor costs trade protection
03:18and currency swings are now strategic variables earlier we said that a single vendor breach can reach
03:24many companies at once here's what that actually means for you your next board agenda should include
03:29a vendor audit a labor contingency plan and a currency sensitivity review that's today's ai prism
03:35ceo this episode was produced with ai assistance based on seoul economic daily reporting
03:40ai prism is a juan ifra award-winning series we'll be back tomorrow
03:44you
