Biometric Banking

[Anchor Lead]

A banking authorization service based on a customer’s palm vein pattern is soon to be introduced in Korea. Bank customers will be able to receive services without using their bank books or a card. Here's more.

[Pkg]

Kookmin Bank will become the first in Korea to introduce a palm vein pattern authorization service at its counters. Authorization will be conducted by having customers place their palms on palm vein pattern recognition readers installed at the bank. This will enable customers to receive most banking services without using their bankbooks or ATM cards. Shinhan and Woori banks already introduced the palm vein pattern recognition system at their ATMs. One out of five working people has been found to work more than 54 hours a week. According to Statistics Korea, some 5.3 million out of 26 million workers work more than 54 hours a day. That's more than 500,000 workers more than a year ago. The number of workers who work more than 54 hours a week had been on decline since the implementation of the five-day workweek in 2004, but its decrease has slowed down recently. As early as in the second half of the year, the gross area of buildings subject to mandatory seismic loading will be reduced from 500 square meters to 200. As a result, almost all newly built structures including apartment buildings, villas and detached houses will be subject to seismic loading.