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Local Telecom Operators Dispute Survey that Highlights Seoul’s “High” Telecom Rates

Local Telecom Operators Dispute Survey that Highlights Seoul’s “High” Telecom Rates

SEOUL, Sept. 21 (Korea Bizwire) — Following survey results released by the Japanese government claiming that costs for telecom services in Seoul were the second-highest among six of the world’s major metropolises, members of the local telecom industry have refuted the claim, stating that the subject of comparison and survey methodology were inadequate. According to [...]

Regulator to Grant 2 Internet-only Bank Permits Next Year

Regulator to Grant 2 Internet-only Bank Permits Next Year

SEOUL, Sept. 21 (Korea Bizwire) — The financial regulator said Friday it will give preliminary approval next year for two groups to launch Internet-only banks, as the government aims to reinvigorate the banking industry. Choi Jong-ku, chairman of the Financial Services Commission (FSC), made the remarks a day after the National Assembly passed a bill [...]

Electronic Payments in S. Korea Surge in Q2

Electronic Payments in S. Korea Surge in Q2

SEOUL, Sept. 20 (Korea Bizwire) — The amount of payments made electronically in South Korea continued to rally in the second quarter as a growing number of people use mobile shopping and remittance services, central bank data showed Thursday. The daily average amount of electronic financial transactions came to a record 117.4 billion won (US$104.87 [...]

Most Websites, O2O Apps Vulnerable to Security Breaches: Data

Most Websites, O2O Apps Vulnerable to Security Breaches: Data

SEOUL, Sept. 20 (Korea Bizwire) — Most websites that collect personal data, online-to-offline (O2O) apps, and Internet of Things (IoT) gadgets are vulnerable to security breaches, data showed Thursday. According to the data by the Korea Internet & Security Agency (KISA) and submitted to the National Assembly, 97 percent of the 13 websites, 19 O2Os [...]

Regulator to Help People Get Back Money Transferred to Wrong Accounts

Regulator to Help People Get Back Money Transferred to Wrong Accounts

SEOUL, Sept. 18 (Korea Bizwire) — The financial regulator said Tuesday it will help people retrieve money mistakenly sent to wrong bank accounts. The move came as the number of erroneous transactions has been on the rise with more people using their smartphones for money transfers. If a person sends money to a wrong account, [...]

Delivery Apps Evolve Further, Expanding to Provide Total Business Solutions

Delivery Apps Evolve Further, Expanding to Provide Total Business Solutions

SEOUL, Sept. 18 (Korea Bizwire) — Having started out as platforms to connect restaurants with consumers, smartphone delivery apps are now attempting to make a big leap by becoming providers of total solutions in the restaurant industry. In addition to their existing advertisement and delivery services, these platforms are expanding their horizons to include services like [...]

Kakao Begins Providing ‘Unsend’ Feature

Kakao Begins Providing ‘Unsend’ Feature

SEOUL, Sept. 17 (Korea Bizwire) – Kakao Corp., the operator of South Korea’s No. 1 mobile messenger KakaoTalk, on Monday kicked off its “unsend” feature that allows users to delete missent messages on its messaging app. Users can delete most mistakenly sent messages, photos, videos or emojis, whether they were read or not by the recipient, within [...]

Kakao Mobility Joins Hands with JapanTaxi

Kakao Mobility Joins Hands with JapanTaxi

SEOUL, Sept. 6 (Korea Bizwire) — Kakao Mobility, a South Korean firm that provides ride-hailing and driver-for-hire services, said Thursday that it has invested 1.5 billion yen (US$13.4 million) for a 3.4 percent stake in Japan’s largest taxi-hailing service, JapanTaxi Co., in a move to expand its services beyond the home market. The two firms [...]