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Naver Looks beyond Network Service, Targets ‘Living Environment’ Technology

Naver Looks beyond Network Service, Targets ‘Living Environment’ Technology

SEOUL, Oct. 11 (Korea Bizwire) — South Korea’s top portal operator, Naver Corp., on Thursday announced a business blueprint that moves beyond its existing online and network business and focuses on technology that is linked to the living environment. “The key technological strategy that Naver is pushing is living environment intelligence,” Song Chang-hyun, the company [...]

Foreign IT Firms to Designate Proxy in Charge of Personal Data

Foreign IT Firms to Designate Proxy in Charge of Personal Data

SEOUL, Aug. 31 (Korea Bizwire) – South Korea will mandate that foreign IT companies designate an official in charge of managing personal information, sources said Friday. According to the industry sources, a relevant law was passed through a regular session of the National Assembly a day earlier that makes it mandatory for companies without addresses [...]

Chatbots in Banking Unable to Offer Full Personal Data Protection: Watchdog

Chatbots in Banking Unable to Offer Full Personal Data Protection: Watchdog

SEOUL, Jul. 31 (Korea Bizwire) — Banks and other financial institutions that increasingly rely on chatbots to interact with customers are vulnerable to breaches of personal data protection, the financial watchdog said Tuesday. A chatbot is a computer program or artificial intelligence that is used in various business sectors, enabling customers to communicate with firms [...]

Open-Source Software as Easy Target for Hackers

Open-Source Software as Easy Target for Hackers

SEOUL, Jul. 5 (Korea Bizwire) – Software freely available to the public has become a new target for hackers. SK Infosec, an information security company, held a press conference yesterday in central Seoul to disclose that 43 percent of the software vulnerabilities found in the first half of the year involved open-source software. The company [...]

Cyber Attacks Caused US$72 bln Losses for S. Korea Firms in 2017: Microsoft

Cyber Attacks Caused US$72 bln Losses for S. Korea Firms in 2017: Microsoft

SEOUL, Jun. 18 (Korea Bizwire) — The South Korean branch of U.S. tech giant Microsoft Corp. released a report on Monday which claimed cyber attacks caused direct and indirect losses of US$72 billion last year for local companies. The report announced by Microsoft Korea and Frost & Sullivan claimed that around 90 percent of such [...]

‘GandCrab’ Ransomware Spreads in S. Korea

‘GandCrab’ Ransomware Spreads in S. Korea

SEOUL, May 18 (Korea Bizwire) — Ransomware called “GandCrab” has recently surged through emails in South Korea, industry sources said Friday. GandCrab, which first appeared in January overseas, sends a malicious URL through emails for a ransom note demanding a payment in cryptocurrency. Ransomware refers to malware that locks up files on a computer with [...]

Big Data, Drones to Safeguard Forests

Big Data, Drones to Safeguard Forests

SEOUL, May 16 (Korea Bizwire) — Drones have been gaining popularity in their application for a wide range of industries, including agriculture and manufacturing. They have become more reliable and capable of different tasks as technology has advanced. The Presidential Fourth Industrial Revolution Committee announced the establishment of an ‘Intelligence-based Forestry Disaster Management Strategy’ on [...]

LG Acquires Shares in S. Korean AI Startup Acryl

LG Acquires Shares in S. Korean AI Startup Acryl

SEOUL, May 2 (Korea Bizwire) — LG Electronics Inc. said Wednesday that it has invested 1 billion won (US$934,000) in the South Korean startup Acryl, which specializes in the development of artificial intelligence technologies. Under the deal, LG acquired a 10 percent stake, or 336,000 shares in the venture firm. Established in 2011, Acryl focuses [...]