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Cyber attacks cost companies $72 billion: Report


A report by U.S.-based consultancy firm Frost and Sullivan Inc. and Microsoft Korea Inc. found that cyber attacks cost South Korean companies $72 billion in economic losses in 2017, Yonhap News Agency reported. The report found that around 90% of losses were indirectly related to loss of clients and damage to companies' reputations. The report added that cyber-attack concerns have prompted 35% of local companies to delay moves to digitalize operations.

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