Mobile Resident Registration Cards Now Issuable Nationwide from March 14
KFTC Enables ID Verification for Financial Transactions through Linkage with Issuing Agencies
On the 14th, the Korea Financial Telecommunications and Clearings Institute (KFTC) announced that it will support 34 financial companies in using mobile resident registration cards for financial transactions through a dedicated mobile ID verification infrastructure connection.
This comes as mobile resident registration cards have become available for issuance in all local governments nationwide starting from this day.
The KFTC’s dedicated mobile ID verification infrastructure for the financial sector plays a role in verifying the authenticity and validity of IDs through system linkage between financial companies and ID issuing agencies, ensuring that mobile resident registration cards can be safely used for financial transactions requiring real-name verification, such as account opening.
In particular, the KFTC’s infrastructure maximizes security by adding encryption technology based on blockchain technology. Additionally, when using the mobile resident registration card, it can be easily accessed through automatic invocation of a dedicated app within the financial company’s app. As a result, customers of financial companies will be able to use mobile resident registration cards more conveniently and securely for financial transactions.
The KFTC has been stably operating the mobile ID verification infrastructure by expanding the types of IDs subject to verification from the mobile driver’s license issued in 2022, to the mobile national veterans registration card in November 2023, and the mobile resident registration card in December 2024.
Meanwhile, starting with 34 financial companies on March 14, mobile resident registration cards are planned to be additionally introduced by about 30 financial companies including banks, securities, insurance, card, and capital companies by the fourth quarter of this year. It is expected that about 60 financial companies will be able to conduct financial transactions using mobile resident registration cards this year.
When adopting the above mobile resident registration cards, financial companies can check and receive all necessary support such as linkage application submission, development support, and policy guidance in a one-stop manner through the integrated support portal exclusively operated by the KFTC for financial companies.
A KFTC official stated, "We will continue to actively support financial companies in adopting mobile IDs so that the public can use mobile IDs safely and conveniently in financial transactions," adding, "We will further strengthen our role as the operator of the dedicated mobile ID verification infrastructure for the financial sector."
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