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Kakaopay to Expand Offline Payment Service

Kakaopay to Expand Offline Payment Service

SEOUL, May 20 (Korea Bizwire) — Kakaopay Corp. said Monday that it will expand its offline payment business to solidify its status as South Korea’s leading fintech service platform provider. Kakaopay said it plans to launch its own application within this year so that more users can use credit cards through the one-click payment system [...]

S. Korean Security Industry Scrambles to Incorporate Unmanned Technology

S. Korean Security Industry Scrambles to Incorporate Unmanned Technology

SEOUL, May 14 (Korea Bizwire) – The security industry, traditionally known as one of the most labor-intensive sectors, is using artificial intelligence (AI) and Internet of Things (IoT) technology to evolve in the age of the Fourth Industrial Revolution. S-1 Corp., a South Korean security firm and an affiliate of Samsung Group, is offering new [...]

Ransomware Attacks on Companies Rise in 2018: Poll

Ransomware Attacks on Companies Rise in 2018: Poll

SEOUL, Apr. 16 (Korea Bizwire) — The number of ransomware attacks on companies rose sharply last year, making ransomware the most prevalent type of malicious software detected, a government poll showed Tuesday. Of businesses that experienced some kind of hacking attempt, 56.3 percent said they were attacked by ransomware, up 30.8 percentage points from 2017, [...]

S. Korea’s Electronic Payments Surge in 2018

S. Korea’s Electronic Payments Surge in 2018

SEOUL, Apr. 3 (Korea Bizwire) — The daily amount of payments made electronically nearly doubled last year as a growing number of South Koreans are carrying out their financial transactions on smartphones, central bank data showed Wednesday. The daily average for electronic financial transactions came to a record 126.1 billion won (US$111.1 million) in 2018, [...]

Internet Banking Users in S. Korea Rise 8.5 pct in 2018

Internet Banking Users in S. Korea Rise 8.5 pct in 2018

SEOUL, Mar. 28 (Korea Bizwire) — South Korea’s Internet banking services grew at a fast clip last year, with the number of daily transactions and their total value reaching record highs, central bank data showed Thursday. The number of online banking service users came to a record 146.56 million as of the end of 2018, [...]

S. Korean Telecoms in Race for 5G-based Security Service

S. Korean Telecoms in Race for 5G-based Security Service

SEOUL, Mar. 27 (Korea Bizwire) — South Korean telecom companies have released their new security management solutions as the country gets ready to begin 5G services that boast higher network efficiency and potential to offer high-value differentiated services. Local carriers are stepping up promotion for their new security services as they are set to launch [...]

More than 63 pct of S. Koreans Use Mobile Phones for Financial Services: Poll

More than 63 pct of S. Koreans Use Mobile Phones for Financial Services: Poll

SEOUL, Mar. 26 (Korea Bizwire) — More than 63 percent of South Koreans have used banking and payment services via smartphones as a growing number are getting familiar with the tech device in their everyday lives, a central bank poll showed Tuesday. The survey of 2,597 adults, conducted by the Bank of Korea (BOK) last [...]

6 Out of 10 Customers Express Willingness to Use Public Payment Service

6 Out of 10 Customers Express Willingness to Use Public Payment Service

SEOUL, Mar. 19 (Korea Bizwire) — Nearly 70 percent of customers have a positive view of the Seoul city government’s smartphone-based payment system, but a fewer number actually plan to use the service, a survey showed Tuesday. According to the survey by the Korea Foodservice Industry Research Institute involving 600 residents in Seoul, 67 percent [...]

Lord Mayor of London Calls for Cooperation with S. Korea on Fintech

Lord Mayor of London Calls for Cooperation with S. Korea on Fintech

SEOUL, Feb. 12 (Korea Bizwire) – The Lord Mayor of London has called for increased cooperation with South Korea on fintech and green finance, the government here said Tuesday. Peter Estlin said South Korea and Britain should facilitate the new FinTech Bridge, a bilateral agreement launched in 2016 to make it easier for the two [...]