SK RETAIL GIANT E-LAND STOPS OPERATIONS DUE TO RANSOMWARE ATTACK

South Korean fashion and retail conglomerate E-Land Group said that it has suspended operations at nearly half of its stores in the country due to a ransomware attack, Yonhap news service reported.

The group said its corporate network system was attacked by ransomware early in the morning. Such a malware attack has forced 23 of its 50 branches of NC Department Store and NewCore Outlet to halt their operations, E-Land added.

Ransomware is software that intentionally blocks users from accessing their digital files unless a payment is made for a decryption key.

The group said it has currently shut part of its corporate network system to minimize the damage and has asked the police to investigate the cyberattack.