Mark Zuckerberg’s appearance before US Congress dominated almost all newspapers and online media. During his testimony, Zuckerberg apologized for not doing enough to protect Facebook user data.
In March, it was reported that Cambridge Analytica, a British political consulting firm, has improperly obtained personal data from Facebook in an attempt to influence voter opinions in the U.S. 2016 presidential election and the UK Brexit referendum on behalf of its political clients. According to Facebook, data about up to 87 million of its members was harvested by a quiz app and then passed on to the Cambridge Analytica. Facebook has been widely criticized for its negligence and lack of care for its user data.
As protection of personal data has been the most debated topic in the recent years, the demands and needs for strengthening regulations and laws for data protection have been growing rapidly as well.
As a result, the General Data Protection Regulation (GDPR) by the European Union will come into force on May 25. The regulation is one set of data protection rules for all companies operating in the EU, wherever they are based. It forces firms to protect their customers’ information and in turn, will change how companies and individuals collect, store and share data. The GDPR puts stronger rules on data protection, which means people have more control over their personal data and business benefit from a level playing field.
Meanwhile, companies are also seeking ways to protect personal data that is collected from the customers and users. SK Telecom is striving to offer its customers with the highest level of security with its T Authentication system.
SK Telecom’s T Authentication is an integrated identification platform solution which provides end-users and corporate customers with easy, safe and reliable authentication services including log in, financial transactions and payments to over 31,000 affiliates through a single mobile application. Users can verify themselves simply by entering their phone number on app that are affiliated with T Authentication and their PIN or biometric information on T Authentication app.
T Authentication requires customers information (e.g. date of birth), authentication pattern (e.g. whether it requests more than N authentications in 10 minutes), PIN or biometric information, domestic/overseas IP and physical distance when 31,000 plus affiliates request customers to verify themselves.
In 2017, T Authentication blocked about 300 hacking trial from overseas to Korea and successfully secured user data with advanced solutions. In one word, T Authentication provides customers more protection over their personal data.
Highly appraised by its convenience and security, T Authentication has drawn over 10 million users and 38.5 million monthly active users (MAU) with over 1,700 million authentication cases since its first launch in 2016. SK Telecom proved its dominant position in the local market with its top authentication application with the largest number of users in Korea, T Authentication.
SK Telecom now opens T Authentication platform to global mobile carriers to encourage them to utilize its authentication service and extend its reach in the global market. The service and solution are adoptable to all service providers in different industries, and can help to enhance a secure, easier authentication process.
Not only focusing on the protection of the personal data with services such as T Authentication, SK Telecom also expanded its service to physical protection of its users by acquiring ADT Caps. Earlier this month, SK Telecom announced that it acquired a domestic security systems company, ADT Caps together with its partner Macquarie Group for about KRW 1.28 trillion. SK Telecom bought a 55 percent stake in Siren Holdings Korea, which owns 100 percent of ADP Caps, while Macquarie Group bought 45 percent for KRW 574 billion. The transaction will be completed as early as in the third quarter of this year according to SK Telecom.
ADT Caps is the second-largest security services provider in Korea with 570,000 subscribers. It mainly provides physical security services including access control and facilities management, such as building maintenance and fire prevention. Under the leadership of SK Telecom, ADT Caps will aim to make over KRW 1 trillion sales by 2021.
Leveraging this momentum, SK Telecom plans to create new integrated security services and business models by applying artificial intelligence (AI), the Internet of Things (IoT), and big data to physical security. Its ultimate goal is to expand its business into total care service for single-person household and large-scale factories.
Considering new ICT security services as the next-generation growth engine, SK Telecom will continue to innovate its technology and find ways to provide the best service for its users.