A South Korean fashion and retail company, E-Land, faces a significant security threat and compromise after a ransomware attack plagues the company's corporate network. The ransomware attack led to shutting down of almost half of its entire operations in the South Korean peninsula, marking one of the country's most massive attacks.
E-Land Group is one of the most famous companies in South Korea that specializes in retail and fashion apparel business . The E-Land Group is a massive South Korean entity that connects itself to significant businesses, including malls, theme parks, restaurants, hotels, construction, and other industries.
The company is a privately held company that still belongs to a group of people and its trusted team. E-Land is also known to conduct its business in Asia, Europe, and the country, United States. The retail company is most famous for its fashion and apparel line that offers unique Korean designs.
E-Land's Corporate Network Shut Down: Ransomware Attack on Sunday
According to the Korea Times, the company publicly disclosed that it suffered an attack last Sunday, November 22, which resulted in almost half of its operations to shut down for the time being. Currently, there is no news regarding when it would reopen the shutdown businesses of the company.
A massive 23 branches of the E-Land Group's 50 total operations were shut down early Sunday, including the NC Department Store and NewCore Outlet. The operations are gravely affected by the ransomware attack on its corporate network to shut down such massive operations.
The company is currently asking for the help and coordination of the national police and cybersecurity experts to investigate the attack and find its culprit. E-Land Group still does not know who caused the cyberattack against its company, causing a massive dispute among its internal affairs.
E-Land: Half of Its Operations are Shut Down to Minimize Damage
According to Korea Herald, the E-Land Group decided to shut down only half of its operations to minimize the damage caused by the ransomware attack that remains unknown. The company is now working closely with authorities to know more regarding the recent cyberattack.
The other half of its company's operation is still on-going, with customers enjoying its services and products in the different locations in South Korea and its products in Europe and the United States. The company was able to observe the attack early Sunday morning and immediately shut down its operations.
Ransomware in 2020: Growing with Notoriety
Ransomware is a kind of malware that aims to hack a system or network of a particular company or individual and use the data found against them. The rise of ransomware attacks in the year shows how much of a threat this malware is, especially for massive companies with confidential files lying around.
2020 recorded massive attacks using ransomware, with medical companies, countries, and even gaming companies facing a threat. Philadelphia's eResearchTechnology (ERT) focuses on the COVID-19 vaccine that was attacked by ransomware, along with Japan's Capcom and Canada's Saint John and Fredericton Cities.
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Written by Isaiah Alonzo