Uniting Against Cybercrime: South Korea and EU Forge Alliance to Build a “Peaceful, Secure and Open Cyberspace” Against North Korean Crypto Theft

South Korea and EU Strengthen Ties to Counter North Korean Cyberattacks

Faced with rising cyberthreats linked to North Korea, South Korea and the European Union have agreed to deepen cooperation on cybersecurity.

According to the press release issued after a high-level policy meeting in Seoul on Tuesday,

“The two sides analysed the growing cyberthreat landscape, identified the types of cyberthreats posed by key actors, including North Korea’s cryptocurrency theft, and agreed on the need for close cooperation between the two to effectively respond to these threats.”

Both parties recognise the growing challenge posed by sophisticated hacking groups associated with Pyongyang, especially their increasing theft of cryptocurrency, and aim to create a safer and more open cyberspace.

What Are The Key Cyberthreats From North Korea?

North Korean hacker groups, including the notorious Lazarus group, have been aggressively targeting cryptocurrency exchanges and financial institutions worldwide.

Reports indicate that from 2024 to 2025 alone, these groups stole around $1.7 billion in digital assets from platforms such as WazirX and Bybit.

Their methods have evolved beyond direct hacking to include phishing scams, fake job adverts, and malware attacks.

Recent incidents include an attempt to infiltrate the US crypto exchange Kraken by posing as a job candidate, as well as efforts by Pyongyang-linked hackers to penetrate blockchain firms in Europe and the UK, revealed by investigations and tech companies like Google.

How Will South Korea and the EU Work Together?

During the meeting, officials from both sides highlighted the importance of close coordination to effectively respond to the fast-changing cyber landscape.

Youn Jong-kwon, director-general for international security at South Korea’s Foreign Ministry, and Maciej Stadejek, director for security and defence policy at the EU’s External Action Service, led the talks.

Maciej Stadejek (left) and Youn Jong-kwon (right)

Alongside them were representatives from South Korea’s intelligence and law enforcement agencies, and members of the EU Commission’s cybersecurity division.

The meeting emphasised improving international cooperation on cybercrime investigations, including faster information-sharing and joint efforts to track and counter criminal networks.

Both parties also committed to supporting other nations’ efforts to strengthen their cyber defences, promoting a “peaceful, secure and open cyberspace,” according to the South Korean Foreign Ministry.

South Korean Foreign Ministry emphasised,

“With the cyber issues rapidly evolving into a key shared challenge, South Korea and the EU agreed to further advance their cyber policy consultations as a platform for comprehensive dialogue on cybersecurity and other related fields.”

What Role Do International Organisations Play?

The dialogue acknowledged the importance of working through multilateral platforms such as the United Nations to address cyber threats.

South Korea and the EU plan to strengthen collaboration in ongoing discussions within international bodies, including the Budapest Convention on Cybercrime and the UN’s Cybercrime Convention.

They also referenced cooperation with organisations like NATO, OSCE, and regional forums such as ASEAN’s ARF, which are increasingly involved in cyber security matters.

Why Is This Cooperation Significant Now?

This is the first in-person Korea-EU cyber policy consultation in five years, signalling renewed urgency amid escalating cyberattacks worldwide.

Both sides agreed that cyber issues have become a core part of national and international security, requiring not just bilateral but also multilateral efforts.

The pace and sophistication of cybercrime are increasing, making rapid information exchange and joint responses critical.

South Korea and the EU’s agreement builds on their existing security and defence partnership, seeking to expand it to the digital realm.

As threats evolve, the cooperation aims to adapt swiftly, sharing expertise and resources to prevent future attacks and protect critical infrastructure globally.