The Ministry of Science and ICT on Thursday held a public hearing on the enforcement decree of the Information Security Industry Act to expand the scope of entities subject to mandatory information security disclosure.

The hearing, held at the Korea Conference Center in Seoul's Seocho district, was arranged to gather opinions from stakeholders and the public and build social consensus on a proposed revision to the enforcement decree that would broaden the disclosure requirement.

With a range of stakeholders attending, including experts from industry, academia and the legal community as well as related companies, the event proceeded with a panel discussion involving expert panelists, followed by a question-and-answer session. The ministry will review opinions presented at the hearing and reflect them in the proposed revision.

The revision is one of the follow-up measures to the government-wide comprehensive information security plan announced jointly by relevant ministries in October last year to overcome public anxiety caused by wide-ranging hacking incidents and strengthen the country's information security capabilities.

The revision deletes the existing condition of sales of 300 billion won or more, which had applied to listed companies, and expands disclosure obligations to all corporations listed on the KOSPI and KOSDAQ markets. It aims to eliminate blind spots in disclosure and strengthen information security accountability at companies with high social influence.

Lim Jeong-gyu (임정규), director general for Information Security Network Policy at the ministry, said, "By expanding the scope of entities subject to mandatory information security disclosure, we will guarantee the public's right to know and encourage companies to voluntarily invest in information security, thereby strengthening security capabilities across the industry and response capabilities to security incidents."