The May 2022 U.S.-ROK Summit between President Joe Biden and President Yoon Suk-yeol revitalized previous bilateral commitments to establish a joint cyber-working group to address the growing issue of cyber-enabled financial crime with specific emphasis on cryptocurrency, blockchain technology, and illicit North Korean cyber activity. However, since then, neither Washington nor Seoul has publicly announced any notable progress on the joint U.S.-ROK cyber-working group.
Drawing from interviews and overseas field research featuring U.S. and ROK stakeholders, this event highlighted key findings from a forthcoming CNAS report that offers actionable policy recommendations for Washington and Seoul to incorporate within their joint government strategy against cyber-enabled financial crime. The panel also discussed current obstacles to enhancing U.S.-ROK cyber coordination, the evolution of North Korea’s cyber program, and modern-day threats from North Korean cyber actors
On Tuesday, August 9, CNAS hosted a virtual discussion about these issues to highlight the pending release of a new report this fall, “U.S.-ROK Strategy for Enhanced Cooperation on Combating Cyber-enabled Financial Crime.”
Blockchain Intelligence Analyst
Dr. Kim So Jeong
Senior Research Fellow
Institute for National Security Strategy
Research Associate, Energy, Economics, and Security Program
Center for a New American Security
This research, event, and report were all made possible through the generous support of The Korea Foundation.