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Notorious ‘ActiveX’ on its Last Legs in South Korea

Notorious ‘ActiveX’ on its Last Legs in South Korea

SEOUL, May 23 (Korea Bizwire) – Industry experts say Microsoft’s much-maligned ActiveX software may be scrapped and replaced with advanced technology such as biometric recognition under the newly elected Moon administration, after being slammed over its security vulnerabilities and widely viewed as plaguing the South Korean web with exhausting and complex online identification processes for [...]

Businesses Take More Than 3 Months to Identify Cyberattacks

Businesses Take More Than 3 Months to Identify Cyberattacks

SEOUL, May 22 (Korea Bizwire) – With the global financial losses from the WannaCry ransomware attack estimated at $4 billion, according to cyber risk analysis firm Cyence, another study by Mandiant, a FireEye company, has revealed that it typically takes more than three months for businesses to acknowledge that there has been a cyberattack.  Based [...]

Convenience Store of the Future Opens at Lotte World Tower

Convenience Store of the Future Opens at Lotte World Tower

SEOUL, May 16 (Korea Bizwire) – Seven Eleven Signature opened today at Lotte World Tower, the world’s very first unmanned convenience store where shoppers can pay with the swipe of their hand, thanks to a biometric verification system that scans palm vein patterns. The vein-scanning self-checkout terminal studies the size, color, and shape of each shopper’s [...]

Study Shows 88 pct of Financial Firms Threatened by Clout of Fintech

Study Shows 88 pct of Financial Firms Threatened by Clout of Fintech

SEOUL, May 2 (Korea Bizwire) — Nearly 90 percent of financial firms worldwide said their businesses are at risk from rapidly expanding fintech rivals and they fear losing revenue to the financial innovators, according to a new study released on Monday, in the latest sign of the growing influence of financial technology, known as fintech. [...]

New High-Tech Door Locks Feature IoT, AI Technology

New High-Tech Door Locks Feature IoT, AI Technology

SEOUL, April 21 (Korea Bizwire) – Smart door locks, incorporating artificial intelligence or Internet of Things technologies, are gradually emerging as the next big trend for security systems in South Korea.  According to the Korea Intellectual Property Office, the number of IoT door lock patent applications surged to 27 in 2014 and 48 in 2015. [...]

Prosecution Signs Deal with Microsoft to Beef Up Cybersecurity

Prosecution Signs Deal with Microsoft to Beef Up Cybersecurity

SEOUL, April 20 (Korea Bizwire) – South Korea’s prosecution said it signed an agreement with Microsoft Corp. on Thursday to protect against growing cyber threats. The Supreme Prosecutors’ Office inked the Government Security Program (GSP) with the U.S. software giant at the office of its local unit in central Seoul. The GSP is a program [...]