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Finance

Toss Payments pushes payment and settlement data link-up with Webcash

Toss Payments, Vivarepublica\'s payment gateway affiliate, is developing an automated link-up of payment and settlement data with Webcash. The two companies signed a business agreement on June 17 to develop the integration function and expand customer infrastructure. At a ceremony on June 15 at Webcash headquarters in Seoul, executives discussed cooperation plans. The companies aim to let merchants view payment and settlement details in Webcash\'s Gyeongri Nara and use them for sales management.

Telecommunications & Media

MSIT deems Tving hack a major incident, forms joint public-private probe team

South Korea\'s Ministry of Science and ICT formed a joint public-private investigation team and began a full probe into damage and causes related to a leak of user information at OTT service Tving. The ministry said a panel reviewing hacking incidents agreed the case qualifies as a major incident, citing the scale of the leak and risk of further harm. KISA and the ministry have sought preservation of relevant data since the report.

Finance

IBK Industrial Bank of Korea adopts AI system to detect misselling of investment products

IBK Industrial Bank of Korea is introducing an AI-based system to check for potential misselling risks that may arise after investment products are sold. The bank aims to raise the level of financial consumer protection by automating its post-sale management process, which had relied mainly on manual work. The system analyses post-sale product data, customers\' investment experience and abnormal transaction patterns to automatically identify potential risk factors.