However, as the world becomes a digitally 'hyperconnected' society, a gigantic IT system is created but is vulnerable to attack. Thus, security has become an issue so important that it can determine a company's success, with digital security and privacy expected to face an even bigger challenge in the coming years.
In accordance with this trend, Rowem, an integrated authentication platform startup specializing in user security, held a conference at the 63 Building in Yeouido, Seoul, on August 20th regarding 'the South Korean IT industry's Proposal for the Post-Corona Era'. This conference was co-hosted by FPT Information System, a subsidiary of Vietnam's largest IT company, FPT Group, with specialists from China, Hong Kong, South Korea, and the United States in the audience.
South Korea's primary authority on blockchain research and professor at the Department of Computer Science in Korea University, Hoh Peter In, stated in his opening remarks that "COVID-19 is speeding up the world's hyper digital transformation", and that "companies who cannot adapt to this change will be driven out with only the adopters remaining."
First speaker Edward KH Chang, senior vice president of the Korea Public Diplomacy Association (KPDA), introduced South Korea's New Deal policy by saying that "South Korea has achieved remarkable outcomes with its efficiency based fast follower strategy," and emphasized that "It needs to seize the opportunity to become the First Mover now while the door to the Fourth Industrial Revolution is open."
Chinese People's Political Consultative Service (CPPCC) member Dr. Johnny Ng and the State Council's Chinese Academy of Sciences (CAS) professor Xianhua Wei illustrated the changes that China's financial innovation and e-commerce sectors have undergone and anticipated the emergence of new business models and opportunities.
Emanuel Pastreich, president of the Asia Institute, explained how the protection of personal information has become even more important amid a rapid increase in demand for cloud technology. Chair-professor at Handong University, Seung ho Tak, also insisted on new standards tailored to a new era.
The closing address was given by Rowem CEO, An Taeho, where he stated, "The key takeaway from the changes that various countries' specialists have brought up is the authentication technology involved in security," and that "both the convenience that consumers seek and the security that service providers pursue have to be realized."
Established in the year 2012, South Korea's leading security certification technology company, Rowem, rose to prominence with its development of 'PASSiKEY', a service that simplified the various and cumbersome online identification steps using a four-digit passcode or the user's biometric authentication by supporting 2 factor and 2 channel authentication techniques at the same time.
PASSiKEY is a mobile application providing convenient authentication and payment methods through the user's mobile device and can be accessed on both domestic and global websites that support the service. Its convenience comes from a simple authentication method (a four-digit passcode or biometric identification) that can be used for registration, sign ins, payment, etc.
Even with a four-digit code, the user's security is not compromised in any way. Here, a randomized 16-digit converter is applied to eliminate any risk of phishing or hacking.
Moreover, because the user's information is again verified by a partner company after PASSiKEY's authentication, service providers can expect a secondary authentication through PASSiKEY's API alone.
CEO An further stressed, "As more companies go online and become digitized, security is most in demand and in this regard, companies that adopt PASSiKEY for free are guaranteed the best security service for no additional charge."
As for the strength of its security, Rowem's simple authentication technology has been recognized by the South Korean Financial Supervisory Service (FSS) as an alternative to public key certificates.
Major financial institutes in South Korea such as KB Securities, Yuanta Securities, Meritz Securities, Hyundai Marine & Fire Insurance, and Shinhan Bank have all adopted Rowem's authentication technology making sign ins and transfers possible through a four-digit passcode while enhancing user convenience as well as security.
In 2018, Rowem was recognized as an official member of Telecom Council, whose members include global telecommunication service providers such as Samsung, LG, Verizon, BT Group, Motorola, Intel, Qualcomm, Amazon, Nokia, SoftBank, Deutsche Telekom, Huawei, etc.
To fully commercialize PASSiKEY, Rowem has released a free PASSiKEY API through its Developer Center (https://developer.passikey.com/en), allowing service providers to enter the PASSiKEY platform.
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