FIDO Alliance launches FIDO Korea Working Group

The FIDO Alliance has launched the FIDO Korea Working Group to further accelerate awareness and adoption of the FIDO Authentication standards in the Korean marketplace. Korea is a leading adopter of FIDO Authentication and is the country with the most companies receiving FIDO certification for products and solutions based on these standards. The working group will engage locally with governments and enterprises to leverage this momentum and ensure that FIDO standards continue to be widely accepted and adopted across industries.

Korean banks reject iPhone X face ID due to security concerns

Twenty Korean banks have rejected the facial recognition security feature of Apple’s iPhone X due to security concerns, according to a report by the Korea Herald. Following reports that the security of the new phone’s Face ID feature has been breached, a number of commercial and online banks said they would not provide the facial authentication option to authenticate customers logging into their accounts. “It was difficult for us to adopt the biometric technology (of iPhone X) abruptly, since it

Korea Internet & Security Agency developing biometric authentication for mobile banking

South Korean government-run Korea Internet & Security Agency is developing biometric authentication for mobile banking with plans to commercialize the technology by late 2018, according to a report by The Korean Herald. “We are developing an algorithm for authenticating mobile banking with a combination of a fingerprint, heart rate and (an) electrocardiogram,” said Jason Kim, chief of KISA’s security technology dissemination team. “The technology is expected to be much safer than existing biometrics including iris sensors, fingerprint scanners and facial

Korean biometric security technologies selected as global standards

The Korea Internet & Security Agency (KISA) announced that two mobile biometric authentication technologies it developed with Korean researchers have been selected as global standards at the ITU-T SG17 Q1 Telebiometrics meeting in Geneva, according to a report by Korea Times. In addition to the two mobile biometric authentication technologies, the agency has suggested that approved a multimodal biometric signal verification technology as a global standard. The Ministry of Science, ICT and Future Planning and the Institute for Information &

Daon establishes strategic partnership with Korea Smart Authentication Corp

Biometric authentication firm Daon announced that the Korea Smart Authentication Corp (KoSAC) has become Daon’s strategic partner for Korea. In a statement, the company explains that government regulation changes related to online authentication requirements for financial services, and Korea’s pro-FinTech stance, make this a high potential market for mobile biometric authentication. Additionally, KoSAC believes the most important ingredient for a growing digital economy is strong personal authentication and, as a result KoSAC will now be the official Korean partner to

Korean iris biometrics firm completes $2.1M series B financing round

CMITech, a Korea-based iris recognition products and solutions developer, has completed a $2.1M Series B financing round to accelerate its R&D efforts and expand its global customer support presence. The venture investment firms who participated in this round include Magellan Technology, Investment of Seoul, SBI Investment Korea and Industrial Bank of Korea Capital. Daniel An of SBI Investment has been appointed to CMITech’s Board of Directors. “We are delighted to bring in this investor group to support our continued innovation

CrucialTec hosting FIDO interoperability test event in Korea

CrucialTec announced that it will host a FIDO (Fast IDentity Online) Alliance interoperability test event in Korea this March. The interoperability test event will be held from March 8 to 10 at the head office of the fingerprint module-maker in Pangyo, Gyeonggi Province. The company is expecting about 25 executives and engineers to take part. The FIDO Alliance is a global consortium for bio authentication technology standards, and the forum has been held every year in the U.S. to validate

CrucialTec projects strong revenue growth for fingerprint modules in H2

CrucialTec announced that its fingerprint module business will continue to grow throughout the remainder of the year as a result of the upward trajectory of the Chinese biometrics market, according to a report by Korea Herald. The company said in its regulatory filing it would earn about 285 billion won (USD$240 million) in revenue in the second half of 2015, which is a 280% increase over the same period last year. This significant increase is primarily driven by CrucialTec’s business

NEXT Biometrics adds Korean distributor to expand fingerprint sensor module sales

NEXT Biometrics Group ASA announced it has signed WPG Korea as its Korean distributor of its new fingerprint sensor modules. WPG Korea is part of WPG Holdings, and touts itself as the largest electronics distributor in Asia. It is a franchise partner for more than 250 suppliers, with a presence across Asia and North America. “WPG Korea is targeting companies that drive forward the Internet of Things and security market,” says Mr. CP Kwak, president of WPG Korea. “In these

Bank of Korea setting standards for biometric identification

The Bank of Korea will work with the Committee on Financial Informatization Promotion (CFIP) to implement new standards for biometric personal identification, such as vein and iris recognition, to be used for e-payment services, according to a report by Business Korea. The CFIP will set up new technical standards for biometric personal identification by July, followed by a pilot phase in the second half of 2015 in which it will test these standards with domestic commercial banks. The biometric personal