South Korean officials have said the Ministry of Science and ICT will downgrade the importance of the public key certificate before the end of 2018.The ministry will do this to the certificate, a widely used personal identification tool in South Korea, by essentially removing the word “public” and turning it into a security system equal to any other privately operated counterpart.By removing the public key certificate's long-held dominance on user security pertaining to financial and civic affairs, the government will open up the market to alternatives provided by the private sector in the form of blockchain-supported systems and biometrics.First introduced in 1999, public key certificates were developed to serve as digital signatures on contracts, but was quickly adopted by the finance industry and public organizations as a form of digital ID.Despite guaranteeing a high measure of security, public key certificates are vulnerable to hacking as they must be saved in file format either on a computer, hard drive or smartphone. In addition, to input one's public key certificate on a website requires the installation of ActiveX or various plug-in programs, a cumbersome process for internet users.Many privately-run security systems avoid relying on ActiveX and instead are considered “no plug-in”. According to the Financial Supervisory Service, the number of financial firms offering no plug-in systems has increased from 2016 to 2017, with KEB Hana Bank, KB Kookmin Bank and Busan Bank only a few banking institutions offering a variety of different ways for users to access their online services.
Recent Articles
- Identity Week Europe 2026 raises the bar with 10 first-time speakers making their debut
- Sumsub joins World Economic Forum Unicorn Community to tackle AI fraud and advance inclusive digital identity
- Air carrier interface integrated into EES strategy
- Kentucky’s first mobile ID accepted for air travel
- FRONTEX expert to headline security document design at Identity Week Europe 2026
Recent Video
- New non-profit trade association of HAND will standardise global talent ID
- No cards, no phones: J.P. Morgan’s biometric revolution in payments
- Anthony Vidiano on building the future of access management
- Charisma Check wins 2025 Start-Up Pitching Competition, advancing identity verification and background checks for dating app users
- How to protect one billion Amazon customers: Lessons from continuous risk assessments
