online Archives | Be Korea-savvy
About 60 pct of Bank Products Sold Online

About 60 pct of Bank Products Sold Online

SEOUL, Oct. 10 (Korea Bizwire) — Some 60 percent of bank services and products, including deposits and lendings, are processed online, regulator’s data showed Wednesday, indicating a trend for non-face-to-face financial services. Records provided by Financial Supervisory Service to Rep. Lee Hack-young of the ruling Democratic Party showed that, of the 11.69 million banking services [...]

Korea to Implement New Standard for ‘Right to be Forgotten’

Korea to Implement New Standard for ‘Right to be Forgotten’

SEOUL, May 26 (Korea Bizwire) – Almost everyone has a skeleton or two in their closet. But once this sensitive information is posted online, it becomes almost permanent.  A new ‘Right to be Forgotten’ standard set by the Korea Communications Commission (KCC) will go into effect starting June. But many questions still remain as to [...]

S. Korea, U.S. Seek to Enhance Cybersecurity Cooperation

S. Korea, U.S. Seek to Enhance Cybersecurity Cooperation

SEOUL, May 19 (Korea Bizwire) – South Korean and U.S. officials gathered here Thursday to discuss cooperation in the cybersecurity sector as both countries are experiencing an increase in online trade.  The seminar brought together about 100 government, business and academic participants from the two sides to discuss trends in cybersecurity in critical infrastructure sectors, [...]

Online Insurance Marketplace Attracts 100,000 Visitors in Only 3 Days

Online Insurance Marketplace Attracts 100,000 Visitors in Only 3 Days

SEOUL, Dec.4 (Korea Bizwire) – Over the past three days, nearly 100,000 individuals have visited the new online insurance supermarket known as Insurance Damoa, where users can compare different insurance plans make online insurance purchases. According to the General Insurance Association of Korea, as of midnight on December 2, a total of 98,210 users had [...]

Online Mall to Facilitate Insurance Purchases

Online Mall to Facilitate Insurance Purchases

SEOUL, Nov.24 (Korea Bizwire) – Next week, an online insurance supermarket will open for the first time in Korea. Customers will be able to compare different insurance plans online, and once a decision is made, even sign up for their chosen program. Officials say that by next year, online insurance shopping should be normalized as [...]

“Digital Aging System” to Delete Your Embarrassing Postings

“Digital Aging System” to Delete Your Embarrassing Postings

SEOUL, Korea, Sep 11 (Korea Bizwire) – There is a dictum in the information technology industry that digital data never die once created. This is true because data, no matter how many times you press the “delete” button in your file explorer screen and send the file to the trash can, reside somewhere in your computer. [...]