Dunamu, the South Korean fintech company behind the cryptocurrency exchange Upbit, announced on June 16 that it invested approximately $10.8 million in cybersecurity in 2024, continuing its steady commitment to strengthening information security.
Since 2021, Dunamu has consistently increased its cybersecurity budget and dedicated personnel. This year’s $10.8 million allocation accounts for 9.6% of the company’s total IT investment of $112.1 million—well above the industry average of 6.1% among firms participating in Korea’s information security disclosure program.
Dunamu’s annual cybersecurity investments have steadily risen, with $4.1 million in 2021, $6.3 million in 2022, $6.7 million in 2023, and $10.8 million in 2024, totaling $28 million over four years.
In tandem, the company has expanded its dedicated security workforce from 9.9 full-time equivalents (FTEs) in 2021 to 33.6 FTEs in 2024. The most notable jump occurred between 2022 and 2023, when headcount doubled from 13.3 to 26.7.
Dunamu’s proactive approach to cybersecurity has earned public recognition. In November 2023, South Korea’s Ministry of Science and ICT named Dunamu an “Outstanding Enterprise for Information Security Disclosure,” awarding the company a ministerial commendation.
“True competitiveness in cybersecurity lies not in how you respond to incidents, but in how well you prepare beforehand,” said Jung Jae-yong, Chief Information Security Officer (CISO) of Dunamu. “We remain committed to safeguarding customer assets and delivering trusted services.”
South Korea’s information security disclosure system encourages companies to voluntarily or mandatorily report their security investments, staffing levels, and certifications. Dunamu has participated in the program since 2022.
