SEOUL, Korea, April 14, 2014 (Korea Bizwire) – Beginning in June this year, credit card companies won’t be supposed to require new card applicants to enter their national identification numbers on the card application forms. Given credit card issuers have not found an alternative way to identify customers, however, the companies will be allowed to [...]
SEOUL, Korea, Mar 27 (Korea Bizwire) – On March 25, the news that the Financial Services Commission and the Financial Supervisory Service would take follow-up measures to protect personal information arrived in the financial sector. With hundreds of millions of personal information already exposed, financial authorities appear to focus on the damage control. As domestic [...]
SEOUL, Korea, Mar 10, 2014 (Korea Bizwire) – Under a severe downturn for years, the securities industry is now experiencing an internal discord between the management and the union over the issue of downsizing. According to disclosure data, the total number of employees in the securities industry as of last year was 40,243, down 5.97 [...]
SEOUL, Korea, Mar 6 (Korea Bizwire) – All the POS terminals used in commercial establishments that are compatible with magnetic stripe cards will be replaced with IC terminals by the end of this year, as the magnetic stripe cards are known to be vulnerable to personal information theft. In order to enforce the rule forcefully, [...]