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Ulsan and KT Agree to Develop Mobile Currency

Ulsan and KT Agree to Develop Mobile Currency

ULSAN, Nov. 15 (Korea Bizwire) — The city of Ulsan and KT Corp. signed a memorandum of understanding on Wednesday to adopt a mobile currency for the city. The two parties agreed to carry out preparatory projects to adopt the local currency, conduct joint studies and research projects, exchange information, and discover innovative ideas that [...]

Local Samsung Pay Users Up 58 pct on-year in Oct.

Local Samsung Pay Users Up 58 pct on-year in Oct.

SEOUL, Nov. 13 (Korea Bizwire) — Samsung Electronics Co.’s payment tool, Samsung Pay, stood as South Korea’s top transaction app in October, data showed Tuesday, with the number of Android-based users rising 58 percent on-year. According to the data compiled by industry tracker WiseApp, Samsung Pay was the most popular financial application for the month, [...]

Seoul’s New QR Code Payment for Taxis to Prevent Overcharging

Seoul’s New QR Code Payment for Taxis to Prevent Overcharging

SEOUL, Oct. 24 (Korea Bizwire) — For the first time in South Korea, the Seoul Metropolitan Government plans to adopt a system in which dynamic QR codes are used to easily pay taxi fares. The city’s plan for a QR code payment standard for taxis will be compatible with various payment methods. Starting in January [...]

Starbucks Korea Doubles Down on Cashless Stores

Starbucks Korea Doubles Down on Cashless Stores

SEOUL, Oct. 23 (Korea Bizwire) — Starbucks Coffee Korea Co. is adding 300 more ‘cashless shops’ in addition to the 103 stores currently in operation, starting on Monday. Cashless stores recommend that customers use a means of payment other than cash. The company noted that adding 300 more cashless stores would amount to one-third of [...]

Nearly 35,000 S. Korean-owned Facebook Accounts Exposed to Data Leak

Nearly 35,000 S. Korean-owned Facebook Accounts Exposed to Data Leak

SEOUL, Oct. 14 (Korea Bizwire) — Nearly 35,000 South Korean-owned Facebook accounts are believed to have been hit by a data leak following the hacking of the U.S.-based online social media company last month, the nation’s communications watchdog said Sunday. The Korea Communications Commission (KCC) said 34,891 Facebook accounts owned by South Koreans were subject [...]

Cashless Economy Encroaches on Everyday Life

Cashless Economy Encroaches on Everyday Life

SEOUL, Oct. 12 (Korea Bizwire) — On an ordinary weekday in downtown Seoul a middle-aged woman walks into a Starbucks to order a cup of coffee. When she takes some paper bills out of her purse to pay the cashier, he politely refuses them and points to a notice at the entrance. “This store doesn’t [...]

Samsung SDS Announces Anti-hacking Tech for Electronic Signatures

Samsung SDS Announces Anti-hacking Tech for Electronic Signatures

SEOUL, Oct. 1 (Korea Bizwire) — Samsung SDS Co., an IT arm of South Korea’s top business group Samsung, said Monday it has developed an anti-hacking technology that will beef up electronic signature security. The company said the technology centers on blocking side-channel attacks, a hacking method that steals private information by analyzing signals and [...]

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 [...]