Woori Bank holds ethical hacking contest to develop cybersecurity talent

Woori Bank has opened its sixth WooriCON simulated hacking contest, offering young cybersecurity participants a chance to test the defenses of its digital banking services.

The bank said the event forms part of its social-responsibility efforts to develop information-security talent and support young people seeking employment. WooriCON is held with the Financial Security Institute and was first launched in 2021 as the financial sector’s first contest of its kind.

This year’s competition includes 40 teams and 109 university and graduate students who passed the document screening stage. From the 7th through the 18th, they will search for potential security weaknesses in Woori Bank’s internet banking and Woori WON Banking platforms under a bug-bounty format.

Woori Bank plans to assess the importance of the vulnerabilities identified by each team. One grand prize, one top excellence prize, one excellence prize and one encouragement prize will share total awards of 4.6 million won. The bank also plans to give winners preferential treatment when they apply for positions in its technology division.