June 2006, five Korean oil workers, three who worked for Daewoo and two for Korea Gas, released after being held hostage by separatist militants in Nigeria. The kidnapping was happened in the Niger Delta where armed separatists are demanding a larger share in oil revenues and compensation for environmental destruction due to oil exploration. Seven months later, nine Korean pipeline workers of Daewoo together with a Nigerian were kidnapped again and safely released thanks to the efforts of the company and the Korean government. These two kidnapping incidents have shown that companies engaged in the overseas business are not safe any more from the terrorist attacks and has given an invaluable lesson that the company having an intention to go abroad for business should take all possible anti and counter-measures against terrorism.
The main purpose of this study is to suggest a guideline for the establishment of counter-terrorism and security strategy against terrorist attacks on the private companies at the overseas. In order to foster a better understanding of the problem, a brief history of terrorism is presented in the first part. In addition, this study analyses and describes the variations of terrorist attacks against private companies together with the terrorism related environment of Korea. Based on the outcome of the study, this paper takes a global view and perspectives of terrorist attacks against private companies and suggests consideration for the future.