SEOUL, Feb. 18 (Korea Bizwire) — South Korea’s ICT ministry said Thursday it will spend 670 billion won (US$607 million) by 2023 to bolster the country’s cyber security capabilities to respond to growing new digital threats. The Ministry of Science and ICT said it will develop infrastructure to quickly respond to cyber security threats, by [...]
SEOUL, Dec. 9 (Korea Bizwire) — South Korea said Wednesday it will phase out an official public key certification system this week in a move to introduce easier-to-use verification services. South Koreans have used public key certificates since 1999 for verification in digital services, such as online banking and tax returns. The system, however, has [...]
SEOUL, Dec. 7 (Korea Bizwire) — With the pattern of everyday life shifting from face-to-face interactions to remote and non-face-to-face ones due to the spread of the COVID-19 pandemic, cyber threats are becoming more prevalent today than ever before. In particular, ransomware, a type of malware that encrypts a victim’s files and then demands a [...]
SEOUL, Feb. 17 (Korea Bizwire) — As the aftermath of the novel coronavirus outbreak, technologies that can reduce anxiety and fear in daily life are rapidly gaining popularity. In particular, so-called ‘untact’ ordering services are quickly gaining ground at restaurants. These types of services allow customers to order and pay for their food at the [...]
SEOUL, Dec. 21 (Korea Bizwire) — LG Uplus Corp., a major telecommunications company in South Korea, said Friday it has signed a deal to sell its payment gateway business to local fintech firm Viva Republica Ltd. Under the agreement, LG Uplus will first spin off its payment gateway business and sell its entire stake in [...]
SEOUL, Dec. 4 (Korea Bizwire) — A financial arm of South Korea’s leading portal operator Naver Corp. said Wednesday it has joined a cross-border mobile payment alliance with its Asian partners. The collaboration enables the four companies’ nearly 80 million users to make electronic payments at stores that use Naver Pay, Line Pay and Payco [...]
SEOUL, Oct. 17 (Korea Bizwire) — The value of daily money transfers via mobile payment apps in South Korea surpassed 200 billion won (US$168.6 million) in the first half of the year, central bank data showed Thursday, as more people used smartphones for financial services. The value of daily money transfers via smartphone apps, such [...]
SEOUL, Oct. 16 (Korea Bizwire) — The number of website defacements in South Korea has increased in 2019 from a year earlier, an opposition lawmaker said Wednesday. Rep. Shin Yong-hyeon of the minor opposition Bareunmirae Party said webpage-related hackings, including the stealing of confidential information and injection of malicious code, numbered 501 cases as of [...]
SEOUL, Jul. 23 (Korea Bizwire) — LG Electronics Inc. said Tuesday it has launched a mobile payment service for G8 smartphone users in the United States and plans to expand the number of smartphone models that can use the service in the coming months. Similar to Samsung Pay, LG Pay is more advanced than Google [...]
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 [...]