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Finance

Bamiteongwi fines Lotte Card 11,250,000 won for violating CI safety measures

The Broadcasting Media Communications Commission imposed an 11,250,000 won administrative fine on Lotte Card for violating obligations to protect linked information (CI). The commission said it also approved a recommendation for improvements after a special inspection conducted from September to November last year following a Lotte Card data leak incident. The inspection found logs containing CI and resident registration numbers were exposed without encryption during operation of its pay service.

Telecommunications & Media

Broadcast Media Communications Commission grants conditional renewal to 17 radio stations including KBS, MBC Gyeongnam and TBS

South Korea's Broadcast Media Communications Commission approved conditional renewals for 17 radio stations run by three broadcasters, setting licence validity at three years. The stations include 14 operated by KBS, two by MBC Gyeongnam and TBS Traffic FM. The commission said the stations previously scored below 650 points in renewal evaluations and underwent hearings under administrative procedures. It set broadcaster-specific conditions and said it may cancel renewals if conditions are not fulfilled.

Games & Commerce

Shinsegae Group to overhaul management strategy office, reorganise control tower around Chung Yong-jin

Shinsegae Group said on Tuesday it has begun procedures to reorganise its Management Strategy Office, the group’s control tower, to identify future growth engines. Ahead of a full overhaul, it ended Im Young-rok’s dual role as head of the office and head of Shinsegae Property. The office will operate around Chairman Chung Yong-jin until a new head is appointed. A group official said the reshuffle aims to execute innovation faster and more accurately.