The Ministry of Science, ICT, and Future Planning and the Korea Internet & Security Agency (KISA) hosted a conference in Seoul on Wednesday 13 August to explain details about the information security readiness system.
A ministry official said "We've created a system for private companies which will allow them to evaluate their level of information security."
"This is a similar system to measuring cars' gas mileage or the consumption rate of electricity," the official added.
KISA has already mandated the government-backed Information Security Management System for major IT companies and public agencies, but had not required compliance of the private sector until now.
Under the new index, companies will be graded between B to AAA, said a KISA spokesman, and the government was considering benefits such as tax cuts for those who score high.
Decision-making process, policy, investments, organization, and other criteria are listed as categories for the evaluation process.
Source: ZDNet Korea (zdnet.co.kr)