KFTC Becomes First Certified Authority to Obtain Recognition as an Electronic Signature Certification Service Provider

[Asia Economy Reporter Song Seung-seop] On the 25th, the Korea Financial Telecommunications and Clearings Institute (KFTC) announced that it has completed recognition and evaluation as the first certified electronic signature service provider.

On the 21st, KFTC obtained recognition as an electronic signature service provider from the Ministry of Science and ICT and the Korea Internet & Security Agency.

The recognition and evaluation system for electronic signature service providers was introduced following the abolition of the public certification system due to the revision of the Electronic Signature Act. It aims to enhance the reliability of private electronic signatures and provide users with necessary information for service selection. Participation in government-led public sector simple authentication or MyData integrated authentication services requires passing this recognition.

KFTC selected the Financial Security Institute as the evaluation agency and underwent evaluation across 187 items in three areas: electronic signature certification operations, administrative/physical/technical protection measures, and personal information protection. Upon qualification, the recognition mark can be confirmed on the homepage and service screens.

Among the electronic signature service providers who have obtained recognition so far, KFTC is the only institution holding both the identity verification agency and electronic signature service provider qualifications, enabling issuance of certificates based on real-name verification.

KFTC plans to use its financial and joint certificate ‘YESKEY’ as the MyData integrated authentication method.

A KFTC official stated, “This recognition confirms the stability and reliability of KFTC’s representative authentication service, the YESKEY certificate service (joint certificate and financial certificate),” adding, “Receiving official certification has established a stable foundation for service operation.”

They also added, “Based on this recognition, we plan to promote the participation of the YESKEY financial certificate, currently individually applied by public institutions, in the public sector simple authentication.”