A couple of months ago, the computer systems of Nonghyup, a large South Korean bank, crashed spectacularly, leaving thousands of customers stranded for several days. It never made headline news in the west. But perhaps it should.
The South Korean military believe the source of the crash was a carefully planned attack by North Korea, which used an infected laptop to infiltrate the banking system, to sow consumer panic. And while Pyongyang has denied the charges, the episode is thought-provoking for investors, particularly given this week’s excitement about the computing “cloud”. Read more