Korea to share knowledge on digital ID systems with developing nations

Home > Business > Finance

Korea to share knowledge on digital ID systems with developing nations

Published: 04 Apr. 2024, 18:58

JIN MIN-JI
[email protected]

Korea Minting, Security Printing & ID Card Operating officials hold a meeting with officials from the World Bank on digital identification systems in Seoul on March 27, 2024. [YONHAP]

Korea and the World Bank have agreed to enhance collaboration on digital identification initiatives by sharing expertise and technologies related to Korea's advanced digital ID system with developing nations, the state-run minting agency said Thursday.

During a meeting held in Seoul last week, the Korea Minting, Security Printing & ID Card Operating Corporation. (Komsco) and the World Bank discussed ways working together for sharing technology with and providing assistance to developing nations regarding their introduction of digital ID systems.

The World Bank has sought to provide reliable digital authentication services to developing nations, and Korea has received requests from several nations, including the Philippines and Indonesia, for cooperation on their adoption of Korean systems, according to the Komsco.

Korea launched the next-generation K-DID system in 2020, a blockchain-based decentralized mobile ID system that better prevents personal information leakage and protects the related rights of individuals.

Komsco chief Lim Do-hyun voiced hope for more nations to introduce the Korean version and vowed to extend support for such countries.

In response, a World Bank official said his organization "will endeavor to explore ways to share Korea's successful K-DID establishment cases with developing countries through our investigation," according to Komsco.

The two sides will issue a report on their K-DID utilization project in the second half of the year, it added.

Yonhap