SEOUL, Feb. 28 (Korea Bizwire) — Lotte Shopping Co., an affiliate of South Korean retail giant Lotte Group, said Friday it has adopted the Taiwan LINE Pay settlement system at its discount store chain to woo Taiwanese travelers. Lotte Shopping formed a partnership with LINE Pay Taiwan Ltd. to introduce the LINE Pay system at [...]
SEOUL, Feb. 28 (Korea Bizwire) — The South Korean Ministry of Science and ICT announced on February 27 that it will select contractors next month for a pilot project to implement post-quantum cryptography (PQC), laying the groundwork for transitioning the nation’s cryptographic systems to prepare for the quantum computing era. Post-quantum cryptography relies on complex mathematical [...]
SEOUL, Jan. 30 (Korea Bizwire) — Naver has introduced Passkey Login, a new authentication method that allows users to log into their accounts using facial recognition or fingerprints instead of passwords. The move is part of the company’s ongoing efforts to enhance privacy and security. According to industry sources, Naver recently launched the passkey system to [...]
SEOUL, Jan. 23 (Korea Bizwire) — South Korea’s Personal Information Protection Commission (PIPC) has imposed fines totaling 8.3 billion won ($5.8 Million) on KakaoPay and Apple Pay for transferring the personal data of approximately 40 million users to China’s Alipay without proper consent. The commission announced on Thursday that both companies violated South Korea’s Personal Information [...]
SEOUL, Jan. 6 (Korea Bizwire) — A surge in social media offers to create fake digital IDs, mainly targeting minors seeking age-restricted products, is threatening South Korea’s newly-launched mobile identification system. A search for “mobile ID creation” on X reveals dozens of posts offering counterfeit services. One account advertises a two-minute turnaround time for 30,000 won, [...]
SEOUL, Nov. 25 (Korea Bizwire) – South Korea has solidified its position as the world’s third-largest filer of artificial intelligence (AI) security technology patents, trailing only the United States and China, according to a report released by the Korean Intellectual Property Office (KIPO) on Sunday. In 2021, South Korea filed 1,492 AI security technology patents, a [...]
SEOUL, Nov. 2 (Korea Bizwire) – A new study warns that the proliferation of cashless businesses could disproportionately impact older consumers who rely heavily on cash and have lower digital literacy, according to research released October 31 by the Bank of Korea. The study, conducted by Lee Kyungtae of the Bank of Korea’s Financial and Monetary [...]
SEOUL, Sept. 24 (Korea Bizwire) – In a display of digital prowess, the South Korean military has clinched its third consecutive victory at CyberNet 2024, a prestigious international cybersecurity competition hosted by the Dutch Cyber Command. The event, held from September 10 to 13, showcased the cyber capabilities of NATO member states and partner countries. The [...]
SEOUL, Sept. 1 (Korea Bizwire) – South Korea will conduct offensive cyberdefense operations to protect critical national infrastructure from hacking attacks and counter disinformation, the presidential office said Sunday. The National Security Council (NSC) unveiled the National Cybersecurity Basic Plan jointly drawn up with 14 government agencies, including the spy agency, police as well as [...]
SEOUL, Aug. 26 (Korea Bizwire) – SK Telecom, a leading South Korean telecommunications company, announced on August 26 that it will provide a ‘passkey’ system to businesses as a Software as a Service (SaaS) solution, enabling login and user authentication without passwords. Passkey is a global standard technology that allows authentication and login through public key [...]