The Conclusion of the 'Cheon Song-yi Coat' Controversy... Only Final Approval in the Plenary Session Left After 21 Years
Intense Competition Expected in Private Certificate Services Without Cumbersome Procedures
[Asia Economy Reporter Buaeri] It takes 10 minutes to install security programs, enter the security card serial number, and complete identity verification to obtain a public certificate. It takes 3 minutes to register a fingerprint and get authenticated through a biometric authentication app. The public certificate, which has caused many inconveniences due to its complicated procedures, is expected to disappear. It has been 21 years since its introduction in 1999.
◆Abolishing the status of 'Public Certificate' = According to the National Assembly and related industries on the 11th, the full revision of the Electronic Signature Act has a higher possibility of passing the plenary session after being processed by the Science, Technology, Information and Broadcasting Committee. Since the ruling and opposition parties have already agreed, it is expected to disappear after 21 years unless any variables arise. The amendment includes deleting the concept of public certification authorities designated by the Minister of Science and ICT and the public certificates issued by these authorities. The purpose is to eliminate the distinction between public certificates and private certificates to create fair competition in the market.
The controversy over abolishing the public certificate dates back to 2014. During the Park Geun-hye administration, the issue arose with the 'Cheon Song-yi Coat.' Overseas shoppers tried to purchase the coat worn by the protagonist Cheon Song-yi in the drama "My Love from the Star" but gave up due to ActiveX and the public certificate, which sparked controversy. As a result, the Financial Services Commission at the time removed the mandatory use regulation of public certificates for e-commerce, improving payment issues.
However, inconvenience for the public continued afterward. The public certificate held a superior status under the Electronic Signature Act compared to other private certificates, so major public institutions tended not to adopt alternative authentication services. Still, most government websites require a public certificate to issue civil documents such as resident registration certificates. The 'public' status officially recognized monopolized the market. Because of this, many citizens had to endure the complicated procedures of the public certificate when issuing civil documents.
◆Era of Private Certificates' Warring States=With the passage of the amendment, these issues are expected to gradually improve. If public certificates and private certificates become legally equal, the current public certificates, which use security cards and have cumbersome renewal procedures, are likely to be naturally phased out and disappear due to market competition.
Currently, various companies offer private certificate services. The three major mobile carriers and fintech security company Aton are targeting the simple authentication market with the mobile identity verification service PASS. The number of certificate issuances for PASS grew tenfold in nine months, from 1.08 million in April last year to 10.2 million in January this year. Kakao also provides KakaoPay authentication services based on KakaoTalk. As of March this year, the number of subscribers exceeded 9 million.
Experts predict that competition among private companies will intensify once the status of the public certificate is abolished. Professor Kim Seung-joo of Korea University's Graduate School of Information Security said, "From the public's perspective, they will be able to experience simpler authentication procedures," adding, "For the time being, the era of warring states among private companies will continue. Companies like Kakao or the three telecom carriers that gain the initiative first may monopolize the authentication platform market."
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