The Korean Ministry of Science, ICT and Future Planning leads the development of the biometrics technology with an investment of USD 1 million. KISA is working in partnership with National University in Spain, the US Telebiometric Research Centre and a Korean small tech company. The project started in June of 2016 and will be completed by the end of 2018.
According to KISA’s chief researcher, the agency has been developing an algorithm for authenticating mobile banking with a combination of a fingerprint, heart rate and electrocardiogram. The biometric authentication reads heart rates and electrocardiogram on a user’s smartwatch, which sends the information to their smartphone. The smartphone is then unlocked with the user’s fingerprint which enables the use of mobile banking.
In addition, the researcher said for Korea Herald, that he is in talks with some smartphone makers in Korea and China for the adoption of the biometric technologies.
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