Blocking Ransomware and Personal Data Leaks…Security Subsidies Up to 3.6 Million Won Available

The Gyeonggi Institute for Economic and Scientific Advancement (hereinafter referred to as GIESA) will provide subsidies of up to 3.6 million won to small and medium-sized enterprises (SMEs) in the province for adopting cloud-based security services (SECaaS) in response to cyber threats.

The project is overseen by the Ministry of Science and ICT and the Korea Internet & Security Agency (KISA), with GIESA's Gyeonggi Information Protection Support Center serving as the implementing agency for the Gyeonggi region. The organization is recruiting participating enterprises until the end of November.

Given the increasing importance of securing information protection capabilities, GIESA's core support aims to enable businesses to leverage necessary security functions against cyber threats such as ransomware, supply chain attacks, and personal data breaches without having to establish their own security infrastructure.

To receive security service adoption subsidies, applicants must be SMEs located in Gyeonggi Province as specified in Article 2 of the Small and Medium Enterprises Basic Act, with priority given to enterprises holding personal information and those in the AI, metaverse convergence, and manufacturing sectors.

Selected enterprises will receive 80 percent of the cloud-based security service adoption costs based on the supply price, up to a maximum of 3.6 million won per enterprise. Businesses are responsible for covering 20 percent of the supply price and value-added tax.

Kim Hyun-gon, president of GIESA, stated, "Cybersecurity is now an essential element for stable corporate management and sustainable business growth," and added, "We will expand support to enable SMEs in the province to proactively respond to cyber threats and establish a safe digital business environment."