SEOUL, Dec. 10 (Korea Bizwire) — Samsung Electronics Co.’s mobile payment system is moving to expand into the banking sector to offer more diverse services to users, the South Korean tech giant said Sunday. The company said that starting Thursday, the payment system installed on some of its newer smartphones can be used to carry [...]
SEOUL, Dec. 7 (Korea Bizwire) – Internet-only banks like K Bank and Kakao Bank are rated higher in consumer satisfaction than online banking services provided by traditional financial institutions, but trust issues with the online services remain. Consumer satisfaction with internet-only banks was higher in six categories, among them bank fees and interest rates, compared [...]
SEOUL, Dec. 6 (Korea Bizwire) — A private association of cryptocurrency exchanges in South Korea said Wednesday that it will voluntarily restrict cryptocurrency transactions with bank accounts starting next year, in a bid to prevent such transactions from being used for money laundering and other crimes. The Blockchain Association, an industry group of some 30 [...]
SEOUL, Dec. 6 (Korea Bizwire) – The South Korean army is reportedly on course to launch a combat unit consisting of drone bots sometime next year, in a move that signals a new era of drone bots in the military. According to a source close the army on Tuesday, a new group will be formed in [...]
SEOUL, Dec. 5 (Korea Bizwire) – The government is mulling plans to launch a task force dedicated to dealing with issues related to cryptocurrencies such as Bitcoin speculation and hacking attacks against cryptocurrency exchanges. According to the Ministry of Justice on Monday, plans are being considered by the government to launch a task force to more [...]
SEOUL, Dec. 5 (Korea Bizwire) — South Korea’s top financial regulator said Tuesday it will use artificial intelligence (AI) technology to automate some of the nation’s probe systems against money laundering. Kim Yong-beom, vice chairman of the Financial Services Commission (FSC), said it will start building the anti-money laundering compliance system using AI next year. [...]
SEOUL, Dec. 4 (Korea Bizwire) — Samsung Electronics Co. said users of its mobile transaction system, Samsung Pay, are able to make payments at the country’s top theater chain CJ CGV as of Monday. While CJ CGV theaters accepted Samsung Pay in 2015 after the service was first launched, the two companies later suspended cooperation [...]
SEOUL, Dec. 1 (Korea Bizwire) – Malicious code found in an Android bible app has been linked to a North Korean hacker group. A hacker group thought to be from North Korea has reportedly planted malicious code in modified versions of the Android bible reading app ‘Godpeople’ which has been downloaded through an illegal app [...]
SEOUL, Dec. 1 (Korea Bizwire) — Just past noon on a recent Monday, a 30-something woman entered a small brick-and-mortar shop in the heart of Seoul, the kind of commonly seen convenience store in South Korea that sells a little bit of everything. Except, it was locked until the shopper tagged her credit card on [...]
SEOUL, Nov. 29 (Korea Bizwire) – A new report has revealed over 75 percent of jobs in finance could evaporate when the fourth industrial revolution takes off in South Korea. According to the report released by the Hyundai Research Institute on Tuesday, nearly 760,000 jobs in the financial sector could be replaced with computers, accounting for [...]