Internet banking is very common in Korea. According to the Bank of Korea, the number of registered user in financial institution for internet banking is currently more than 50 million.
Meanwhile, the users of mobile banking are around 7.8 million, which is an increasing by 90% over last 12 months.

This popularity is mainly driven by the growth of VM (Virtual Machine) mobile banking users. In Korea, there are two different types of mobile banking, one is IC mobile banking and the other is VM mobile banking. IC mobile banking is using IC chip, inserted in mobile handset, to use mobile banking. Only limited mobile handsets provide IC mobile banking. However VM mobile banking is using application software, installed at mobile handset, to do internet banking. This means that you don’t need a special mobile phone to use mobile banking.

I visited the SK Telecom1 ’s official blog (www.sktstory.com) and found this interesting video clip.
The following video clip shows some of the future services that SK Telecom is envisioning about. I think the service that uses the virtual reality on the screen is very interesting.

You can experience these demo services in reality at SKT’s T-um Airpot, Incheon Airport, Korea. If you have any chance to be at Incheon Airport, consider going there and try these services.

This morning I found that JC Allen visited Seoul and settled down for interviews from The INQUIRER.

He interviewed Sean Lee & Kang-Min Ahn who are respectively , CEO & CFO of DirectMedia. He interviewed them to discuss their business of mobile content distribution and their accelerating transition to become the biggest mobile content producer in South Korea. To read the full interview, click here.

I think it will give a good overview of how Korean mobile contents company operates in the Industry.