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Archive by category Security & Payments

Hackers Attack Portal Users with Phishing Emails for Passwords, Personal info

SEOUL, April 4 (Korea Bizwire) – Unidentified hackers have been attacking users of South Korea’s two major portals in recent months to get their passwords and other personal information, an industry source said Wednesday. The hackers are using phishing emails that entice users to click on a link to bring them to a fraudulent website, EST Security Corp., a cybersecurity firm, said. The hackers named “Daum Post” sent phishing emails to some users of [...]

Security Solutions Firms Seek Integrated Service to Meet Consumer Demand

SEOUL, Mar. 20 (Korea Bizwire) — South Korea’s major security and safety solutions providers are making inroads into the integrated security services market with enhanced Internet security solutions combined with physical security, industry sources said Tuesday. The trend is in line with rising demand for better service and rapid growth of the information security market [...]

Blockchain Money Transfers ‘Too Slow’ and ‘Hard to Restore’

SEOUL, Feb. 14 (Korea Bizwire) – Blockchain technology-based money transfer services were found to be too slow and hard to restore where there is a glitch, according to tests conducted by the Bank of Korea. According to the BOK, speed and restoration issues were discovered in blockchain money transfers between banks, the central bank of South [...]

WeMakePrice Mulls Cryptocurrency Payments in Korea

SEOUL, Jan. 30 (Korea Bizwire) — Social commerce service WeMakePrice is set to become the first South Korean shopping website to accept cryptocurrencies in South Korea. According to reports, WeMakePrice is in talks with cryptocurrency exchange Bitthumb to allow users to make payments with cryptocurrencies such as Bitcoin, which could see the website become the [...]

South Korean Gov’t Steps Away from Online Personal Identification Security

SEOUL, Jan. 24 (Korea Bizwire) — The Ministry of Science and ICT announced on January 24 that before the end of the year it would downgrade the importance of the public key certificate, a widely used personal identification tool in South Korea, by essentially removing the word “public” and turning it into a security system [...]

Cryptocurrency Debate Heats Up on Social Media

SEOUL, Jan. 22 (Korea Bizwire) — Opinions on cryptocurrency are completely polarized on social media among South Korean users, a new report has found. Mentions of cryptocurrencies such as Bitcoin by South Korean social media users are 49 percent positive and 51 percent negative, according to a report released by a preparatory committee for the Korea [...]

Cryptocurrency Policy Advisor Made Millions Before Government Announced Regulations

SEOUL, Jan. 19 (Korea Bizwire) – A South Korean cryptocurrency policy advisor who has made over 10 million won via investment in cryptocurrencies is being accused of using inside information for personal gain. A member of the Financial Supervisory Service, whose name remains anonymous, enjoyed a profit margin of over 50 percent after selling his cryptocurrency [...]

NW: Nowon District’s Local Cryptocurrency

SEOUL, Jan. 18 (Korea Bizwire) — Seoul’s Nowon District is set to roll out next month ‘NW’, a new cryptocurrency that will be used as a means of exchange within the local community. NW is the first blockchain technology-based local currency in the world, according to the Nowon District Office on Thursday. After its release next [...]

Active X on the Way Out from Government Websites

SEOUL, Jan. 17 (Korea Bizwire) — The South Korean government will continue efforts to remove ActiveX from official websites this year. The Ministry of the Interior and Safety said on Tuesday that 30 select government websites will go through an ‘Active X purge’ this year, as part of the initiative to do away with controversial plug-in [...]

Nearly 2 Million S. Koreans Estimated to Have Used Cryptocurrency Apps

SEOUL, Jan. 15 (Korea Bizwire) – Nearly 2 million South Koreans are estimated to have used cryptocurrency applications with their smartphone in the past week, data showed Monday. A total of 1.96 million people may have used apps that allow them to handle digital currencies, such as bitcoin and ethereum, last week, up from 140,000 [...]