[Click eStock] "Korea Information Certificate, Benefiting from the Growing Electronic ID Market"

[Asia Economy Reporter Hyungsoo Park] ResearchAlum forecasted on the 23rd that Korea Information Certificate will benefit from the growing electronic ID card market.

Choi Seonghwan, Senior Researcher at ResearchAlum, said, "Kakao will launch an electronic wallet within this year that can store various ID cards using Korea Information Certificate's certificates," adding, "The service plans to provide the ability to store various ID cards at once, including mobile driver's licenses provided by the three mobile carriers, general ID cards, qualification certificates, and student IDs."

He continued, "As the number one messenger platform in Korea allows the use of mobile ID cards without separate installation, the launch of KakaoTalk electronic wallet will be a signal for the full-scale digital identity verification era."

Researcher Choi emphasized, "There are 1.5 million subscribers to the PASS mobile driver's license verification service, which is only about 4.5% of all license holders," and added, "Since Kakao's electronic wallet can be used not only by license holders but by the entire population, rapid market share expansion is expected."

He analyzed, "Korea Information Certificate is currently promoting the supply of ID and qualification certificates to Kakao's electronic wallet," and "Next year, they are negotiating certificate supply with most companies entering the mobile ID business such as Naver and Samsung Electronics."