Leipzig: Cybersecurity is becoming an increasingly important factor car manufacturers have to consider with the global automotive industry's move toward more "connected" and "software-defined" vehicles, an executive at a South Korean automotive cybersecurity solutions provider said Thursday.
According to Yonhap News Agency, Lee Joo-hwa, head of Autocrypt's European branch, highlighted the vulnerabilities associated with software-defined vehicles (SDVs) during the 2025 International Transport Forum Summit in Leipzig, Germany. Lee emphasized that the interface connecting cars and their external environment increases the risk of cyberattacks and data breaches.
SDVs are next-generation automobiles where software plays a central role in controlling and enhancing vehicle functions, including self-driving capabilities. Lee stressed that cybersecurity is crucial for ensuring driver safety and protecting personal information, as breaches could lead to accidents or data leaks.
Autocrypt, founded in 2019, has been providing cybersecurity solutions to over 20 global car manufacturers, including Hyundai Motor Group. The company also serves about 40 percent of major global auto parts manufacturers. Lee noted that legislation mandating cybersecurity features in vehicles is being adopted by major economies, with the European Union and South Korea implementing new rules and India planning similar regulations by 2027.
Lee highlighted the ongoing threat of cyberattacks in the mobility industry, citing a report from U.S.-based data security firm Upstream Security, which detected 108 mobility-specific ransomware attacks and 214 data breaches worldwide in 2024. Hyundai and Kia Corp., for example, faced theft cases in the United States due to a lack of immobilizers, prompting Hyundai to establish a cybersecurity center.
The global automotive cybersecurity market is projected to grow significantly, expected to reach $10.4 billion in 2034, up from $3.5 billion in 2024, according to data from U.S.-based market researcher Global Market Insights. In response to market demands, Autocrypt began its initial public offering last week to get listed on South Korea's KOSDAQ market in June.