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 [...]
SEOUL, Aug. 14 (Korea Bizwire) – Kakao Pay, a leading digital payment service in South Korea, announced on Wednesday that it has ceased sharing user information with Alipay since mid-May, following a controversial breach involving the unauthorized disclosure of personal credit data. In a statement, Kakao Pay revealed that the suspension of information sharing began on [...]
SEOUL, Aug. 13 (Korea Bizwire) — Kakaopay Corp. has provided credit information of its users to China’s Alipay without the required customer consent, the financial regulator said Tuesday, an allegation quickly dismissed by the South Korean platform. The Financial Supervisory Service (FSS) said its inspection of South Korea’s leading mobile payment platform in April and [...]
SEOUL, Jun. 14 (Korea Bizwire) – LY Corp., the operator of popular mobile messenger Line, has announced its plan to terminate its Line Pay service in Japan next year, amid criticism over Japan’s apparent pressure to shed Naver Corp., South Korea’s biggest internet portal operator, from LY. LY, a 50-50 joint venture between Japan’s SoftBank and [...]
SEOUL, May 27 (Korea Bizwire) – The South Korean Ministry of Land, Infrastructure and Transport has announced plans to launch a pilot program for a new “smart toll” system on the nation’s highways, an initiative launched in collaboration with the Korea Expressway Corporation. The trial, slated to commence on May 28 for a one-year period, aims [...]
SEOUL, May 17 (Korea Bizwire) – Samsung Electronics announced on May 16 that it is introducing a ‘Gift Funding’ campaign to cater to consumers who desire practical gifts for special occasions. Building upon last year’s successful ‘Bespoke Wedding Funding’ initiative targeted at engaged couples, the company has expanded the scope to encompass a broader range of [...]
SEOUL, Apr. 26 (Korea Bizwire) – A groundbreaking new labeling technology that prevents forgery and counterfeiting by engraving information instead of using adhesive stickers has been developed by a team of researchers in South Korea, according to an announcement by the Ministry of Science and ICT. The research, led by professor Rho Junsuk of the Pohang [...]