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Hackers Threaten Banking Institutions With DDoS Attacks

Hackers Threaten Banking Institutions With DDoS Attacks

SEOUL, June 27 (Korea Bizwire) – Hackers who threatened to launch a distributed denial-of-service attack (DDoS) made good on their promise by attacking a number of South Korean banking institutions on Monday. According to the Financial Supervisory Service (FSS), a hacker group called the Armada Collective targeted the Korea Financial Telecommunications & Clearings Institute (KFTC), [...]

Head of SK Says Toshiba Deal is ‘Not Finished’

Head of SK Says Toshiba Deal is ‘Not Finished’

SEOUL, June 23 (Korea Bizwire) – SK Group Chairman Chey Tae-won said Friday its semiconductor arm’s move to join the acquisition of Toshiba Corp.’s chip business is “not finished,” hinting there are still challenges moving forward. The remark came as a global consortium including South Korea’s SK hyinx Inc. was tapped as the preferred bidder [...]

S. Korea Branches into South American E-Government Market

S. Korea Branches into South American E-Government Market

SEOUL, June 15 (Korea Bizwire) – A South Korean government delegation will visit Brazil and Peru next week to promote its electronic government systems, the ministries of interior and foreign affairs said Wednesday. The team led by a senior official of the Ministry of the Interior plan to visit the South American countries through Tuesday. In Peru, the delegation plans [...]

Fintech Reshaping the South Korean Financial Industry

Fintech Reshaping the South Korean Financial Industry

SEOUL, Jun. 14 (Korea Bizwire) — The rise of fintech is reshaping the landscape of the South Korean financial industry. Fintech, a portmanteau of the words ‘finance’ and ‘technology’, refers to the use of IT services to replace traditional human-based processes or interaction, examples of which include internet payment systems such as Paypal. Similar services [...]

South Korea’s Nascent AI Industry Focused on Medical and Service Sectors

South Korea’s Nascent AI Industry Focused on Medical and Service Sectors

SEOUL, June 1 (Korea Bizwire) – With artificial intelligence rapidly spreading across global industries, the latest study from the National Information Society Agency (NIA) has revealed that South Korean startups tend to focus their AI development on the medical and convenience service sectors.  The NIA based its study on 19 startups here that had a [...]

World IT Event to Showcase Latest Devices, Technologies

World IT Event to Showcase Latest Devices, Technologies

SEOUL, May 23 (Korea Bizwire) – South Korea’s largest consumer electronics and technology trade fair will kick off in Seoul later this week to showcase the latest mobile gadgets and telecommunications technologies, the ICT ministry said Tuesday.  The World IT Show, hosted by the Ministry of Science, ICT and Future Planning, will kick off Wednesday [...]

Computer Coding Education Becoming Popular in South Korea

Computer Coding Education Becoming Popular in South Korea

SEOUL, May 19 (Korea Bizwire) – Joo Jae-un, a college student in Seoul, stayed in the nation’s top science technology school in Daejeon for a month last summer to attend an intensive training course on computer programming.  The 25-year-old business major took classes for three to four hours every weekday at KAIST (Korea Advanced Institute [...]

S. Korea Raises Cybersecurity Alert against WannaCry Attack

S. Korea Raises Cybersecurity Alert against WannaCry Attack

SEOUL, May 15 (Korea Bizwire) — South Korea raised its cybersecurity alert on Sunday amid growing concerns about the WannaCry ransomware cyberattack that has spread across the world. The Korea Internet & Security Agency said four companies have reported to the state computer security agency that they were affected by the malicious software over the [...]

IBM Korea Celebrates 50th Anniversary, Vows Stronger Presence in S. Korea

IBM Korea Celebrates 50th Anniversary, Vows Stronger Presence in S. Korea

SEOUL, April 24 (Korea Bizwire) – IBM Korea Inc., a subsidiary of the multinational technology firm IBM Corp., celebrated its 50th anniversary on Monday, pledging to aggressively enlarge its presence in South Korea and eventually lead the global ICT industry.  “IBM will do its part as a global leader in the artificial intelligence (AI) and [...]