Lifestyle - The Korea Times

Commendation Award Investment, outsourcing to help guard cyber borders

By Hong Soon-youngEven when the world seems calm and serene on the cover, the tapping of keyboards never stops.This is especially true for hackers who incessantly try day and night to break into the online security systems of institutions that hold considerable assets, notably banks. By hacking into their systems they not only do harm to the banks themselves but steal the personal information of numerous civilians who could hardly do anything about it.Thus, the keyboards of hackers are affecting this society considerably for the worse, and if we do not come up with radical solutions to address this problem, Korea’s banks and their clients will fall into serious danger.Let us look at some ways Korea’s banks can make fundamental amends to the current way they run their online security systems and thus significantly enhance their protective quality.First of all, we need to understand that hacks into the security systems of banks are implemented by none other than people.Hackers are not simplistic machines that unsuccessfully prod at our security system here and there. They a

Nov 18, 2014

[Commendation Award] Investment, outsourcing to help guard cyber borders

Commendation Award Banks need to take different approaches

By Bright Gameli Mawudor Attacks on information security infrastructure is evolving on a daily bases due to sophisticated methods being adopted by cyber criminals. Korean banks have to take on different approaches to safeguard their customers from losing to hackers and also retain reputation.This has to be looked at from the following points of view:Customer awareness and browser platform varieties Customers need various forms of awareness about how they can be hacked and precautions given to them to be extra alert when doing transactions using various mediums of interacting with the bank.This can be done through advertising through social media, newsletters and also warnings on mobile applications or Internet banking website.Aside from that, it will be a good idea for Korean banks to refrain from Internet explorer restrictions when it comes to compatibility as it has been known to have the most vulnerability in the world which hackers take advantage to exploit customers when doing Internet banking.Other platforms such as Google Chrome and Mozilla Firefox should be good alt

Nov 18, 2014

[Commendation Award] Banks need to take different approaches

Runner-up Prize Building international financial superstar

By Steven ShidelerThe development seen by Korea since the end of the Korean War in 1950-53 has been often repeated as the miracle on the Han River.While the Korean economy has developed and pushed forward, multi-national juggernauts like Hyundai and Samsung have arisen as some of the top companies in their respective industries.Korea is well represented internationally in areas such as automobiles, shipbuilding, construction and technology. However, Korea has yet to produce a global player on the world’s financial stage.In order to produce a global player Korean financial institutions need to do several key things, move away from reliance on loans/mortgages for profits, make strategic acquisitions and develop talent on the global stage.In comparison to global enterprises, Korean financial institutions rely too much on their loans and mortgages for income.They need to increase their revenue and profits by increasing value-added services. These include trading of securities, consulting companies and clients about new equity financing, as well as commissions on securities and weal

Nov 18, 2014

[Runner-up Prize] Building international financial superstar

Grand Prize Foreign talent to help globalize Korean banks

 By Deborah Cheok The financial industry is one that is not constrained by geographical boundaries. With countries becoming more open and globalised, economies are increasingly interconnected.As one of the most internationalized cities in Asia, Korea is no stranger to this global phenomenon. Korea is a country that takes pride in nationalism. While it does build a people with a strong sense of national identity, it works as a double-edged sword.According to Dobbs and Villinger from McKinsey’s Seoul Office, “South Korea must become more receptive to outside ideas and innovation… encourage more collaboration between domestic and foreign universities, schools, and businesses.”To succeed in the financial sector or any other industries, it is inevitable that Korea welcomes foreigners, as they will be able to provide fresh perspectives to traditional methods.Even though the topic of foreign talent has always been hotly debated in countries like Singapore (where there is a significant number of foreigners), the main idea is to be open to new ideas, be

Nov 18, 2014

[Grand Prize] Foreign talent to help globalize Korean banks

Grand Prize Upgraded software security to power banks

 By Ku Yae-rinIn recent years, marked improvements have been made to upgrade banks’ online security systems or so the news media seem only too complacent to purport. Banks are hit by cyber-attacks on a daily basis, and are indeed becoming more adept at preventing relatively trifle breaches of security.No matter, it is still very difficult to provide an estimation of losses induced by cyber-crime activities against banks.The majority of financial institutions prefer to keep data related to suffered attacks and compromised websites under radar and safely tucked away from the eyes of the public.Such phenomenon creates a dominant ambience that online bank accounts are almost bullet-proof, which gulls people into believing the next target of hackers could be anyone but themselves.The improvement of online banking system has led to increased use by consumers worldwide and the exponential expansion has made this service a privileged target for cyber criminals.In truth, banks are bombarded by security threats every day, and the number is growing in congruence with the ap

Nov 18, 2014

Turkmenistan Independence Day

Turkmenistan Ambassador to Korea Myrat Mammetalyyev, left, toastswith Lee Jeong-gwan, ambassador for Overseas Koreans and Consular Affairs at the Ministry of Foreign Affairs during an event to celebrate the 23rd anniversary of Turkmenistan Independence Day at the Lotte Hotel in Sogong-dong, Seoul, Monday. / Korea Times photo by Shim Hyun-chul

Nov 17, 2014

Evangelist sees the technology light

Ji Guk-hwanBy Yoon Sung-wonThe term technology evangelist refers to IT specialists who introduce technologies to those who are unfamiliar with them.Like religious evangelists, they need a strong faith in what they do ― to help listeners understand the technology and persuade them to adopt it.Technology evangelist Ji Guk-hwan, 28, works at Unity Korea, the Seoul branch of global company Unity Technologies, which operates the world’s most sought-after game design and development tool “Unity.”He said both the job and Unity technology had fascinated him.“My role as a technology evangelist is to explain about new technology or software services to those who do not know about it or those who want to learn about it,” Ji said the Unity Korea office in Seocho-gu, southern Seoul, on Nov. 11.He said the company had organized game development workshops for those who had not used the software. Participants in the workshops, which were designed to promote the convenience and accessibility of the software, had to develop a game within five hours.Ji, who also joins in t

Nov 17, 2014

Actress dies of complications from lung cancer

By Lee Kyung-minThe late Kim Ja-okActress and singer Kim Ja-ok died of lung cancer, Sunday. She was 63.Doctors at the Catholic University of Korea’s Seoul St. Mary’s Hospital said they had been treating her after they discovered colon cancer she was treated for in 2008 had recurred, and spread to her lungs.Her 2008 cancer operation was a success, with her returning to the TV screen in the SBS drama “Working Mom,” only three weeks after the operation.The cancer was in remission for years, but recurred recently. She was admitted to St. Mary’s on Nov. 14, after her condition deteriorated rapidly.She died during treatment in the Intensive Care Unit (ICU), with her exact cause of death listed as complications caused by lung cancer, according to the doctors.  Appearing on numerous TV dramas including last year’s “A Woman who Got Married Three Times,” on KBS and tvN’s entertainment show “Grandmothers over Flowers,” she was noted for her “perkiness.”Her perkiness started in 1996, in her mid-40s, when she relea

Nov 16, 2014By Lee Kyung-min

Actress dies of complications from lung cancer

Rho's lifetime love for paper

Rho Young-hye, chairwoman of the Korea Paper Culture Foundation (KPCP)By Lee Kyung-minJongi jeopgi, or paper folding, is more than a passion for Rho Young-hye, 66, chairwoman of the Korea Paper Culture Foundation (KPCP). It is a life mission.Having been CEO of Jonginara, a stationery company that opened in 1972, she says she cannot separate paper from her life.She decided to spread the Korean words, jongi jeopgi, because most people around the world are more familiar with the Japanese origami.Established in 2003, KPCF now has 37 regional offices across 16 countries.“Thirteen elementary school teachers now have a license to teach jongi jeopgi,” she says. “We encourage teachers to learn it first, and then share the fun with their students, not only in the U.S., but also in Germany and the Philippines.”She hopes having a yearly event on Nov. 11, under the name “Paper Day,” will help foreigners become more familiar with jongi jeopgi.The event aims to have as many people as possible participate in the actual folding.With this annual activity she be

Nov 14, 2014

Bambi Awards

The members of Irish band U2, from left, Adam Clayton, Bono, The Edge and Larry Mullan Jr. present their “Music International” Bambi 2014 media awards at the awarding event in Berlin, Germany, Thursday. / AP-Yonhap

Nov 14, 2014

People & Events

People & Events

Commendation Award Investment, outsourcing to help guard cyber borders

Commendation Award Banks need to take different approaches

Runner-up Prize Building international financial superstar

Grand Prize Foreign talent to help globalize Korean banks

Grand Prize Upgraded software security to power banks

Turkmenistan Independence Day

Evangelist sees the technology light

Actress dies of complications from lung cancer

Rho's lifetime love for paper

Bambi Awards

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