Women walk to class at a state-run shelter for North Korean defectors in Ansung, South Korea. AP Photo
Women walk to class at a state-run shelter for North Korean defectors in Ansung, South Korea. AP Photo

Hacker steals data on 1,000 North Korean defectors in South



The personal information of nearly 1,000 North Koreans who defected to South Korea has been leaked after unknown hackers got access to a resettlement agency's database, the South Korean Unification Ministry said on Friday.

The ministry said it discovered last week that the names, birth dates and addresses of 997 defectors had been stolen through a computer infected with malicious software at an agency called the Hana centre, in the southern city of Gumi.

"The malware was planted through emails sent by an internal address," a ministry official said, referring to a Hana centre email account.

The Hana centre is among 25 institutes the ministry runs around the country to help some 32,000 defectors adjust to life in the richer, democratic South by providing jobs, medical and legal support.

Defectors, most of whom risked their lives to flee poverty and political oppression, are a source of shame for North Korea. Its state media often denounces them as "human scum" and accuses South Korean spies of kidnapping some of them.

The ministry official declined to say if North Korea was believed to have been behind the hack, or what the motive might have been, saying a police investigation was under way to determine who did it.

North Korean hackers have in the past been accused of cyberattacks on South Korean state agencies and businesses.

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North Korea stole classified documents from the South's defence ministry and a shipbuilder last year, while a cryptocurrency exchange filed for bankruptcy following a cyberattack linked to the North.

North Korean state media has denied those cyberattacks.

The latest data breach comes at a delicate time for the two Koreas which have been rapidly improving their relations after years of confrontation.

The Unification Ministry said it was notifying the affected defectors and there were no reports of any negative impact of the data breach.

"We're sorry this has happened and will make efforts to prevent it from recurring," the ministry official said.

Several defectors, including one who became a South Korean television celebrity, have disappeared in recent years only to turn up later in North Korean state media, criticising South Korea and the fate of defectors.

(Reporting by Hyonhee Shin Editing by Robert Birsel)

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

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Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

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The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”