SEOUL, Dec. 8 (Korea Bizwire) — Following the disclosure that personal information belonging to more than 30 million Coupang users had been leaked, South Korea’s leading digital platforms are moving to strengthen cybersecurity, conduct internal audits and guard against potential secondary fraud, industry officials said Sunday. Major players — including Naver, Kakao and financial platform Toss [...]
SEOUL, Dec. 8 (Korea Bizwire) — A series of large-scale personal data breaches at telecommunications companies and at e-commerce giant Coupang has revived concerns that South Korean firms have little incentive to purchase cyber insurance, despite growing systemic cybersecurity risks across the economy. According to a report released Sunday by the Korea Insurance Research Institute, Kwangmin [...]
SEJONG, Dec. 3 (Korea Bizwire) — A majority of South Koreans say they feel unsafe about the risk of personal data breaches, reflecting rising anxiety amid a surge in hacking incidents and expanding digital services, according to new government data. The latest Social Survey from the National Data Office shows that 57.6 percent of respondents last [...]
SEOUL, Dec. 1 (Korea Bizwire) — South Korean online platforms were seen carrying out emergency reviews of their data protection status, with Coupang Inc. widely expected to face major fines following a data breach, sources said Monday. On Saturday, the U.S.-listed e-commerce giant said personal information of 33.7 million customers has been compromised, far higher [...]
SEOUL, Nov. 30 (Korea Bizwire) — Anxiety is rising in South Korea after a massive data breach at e-commerce heavyweight Coupang, which local officials said Sunday may have gone undetected for months. The U.S.-listed retailer said Saturday that personal information belonging to 33.7 million customers—virtually its entire user base—was compromised. The exposed data includes names, [...]
SEOUL, Nov. 18 (Korea Bizwire) — Hyundai Motor Group is moving to strengthen its defenses against mounting cyber threats, establishing a new group-wide control tower and sharply increasing investments in information security amid a wave of high-profile hacking incidents in South Korea. According to industry officials on Tuesday, the conglomerate recently created the Group Cyber Threat [...]
SEOUL, Oct. 1 (Korea Bizwire) — In the wake of a string of high-profile data leaks, an overwhelming majority of South Koreans say they view such incidents as a serious threat and support adopting punitive damages similar to those in Europe and other advanced economies, a new poll shows. According to a Realmeter survey of 500 [...]
SEOUL, Sept. 29 (Korea Bizwire) — The use of payment services employing passwords, biometric data and other authentication methods rose more than 11 percent in the first half, reflecting the growing trend of contactless commerce, central bank data showed Monday. The daily average value of simple payment transactions reached 1.046 trillion won (US$745.77 million) in [...]
SEOUL, Sept. 29 (Korea Bizwire) — South Korea’s second-largest telecom carrier, KT, is under mounting criticism from consumers and legal experts for refusing to disclose key network data in cases involving unauthorized mobile phone payments, even as reports of such incidents climb. Authorities say nearly 19,300 cases of fraud involving mobile micropayments were reported last [...]
SEOUL, Sept. 18 (Korea Bizwire) — KT Corp. said Thursday the number of victims of a recent mobile payment breach has reached 362, with total damage estimated at 240 million won (US$173,000). South Korea’s No. 2 mobile carrier, which recently reported a series of unauthorized mobile payments following a suspected data leak, had initially reported [...]