Financial Cloud Opens at Seoul Mokdong IDC2 Center
Comply with the Financial Supervisory Service security guidelines and
Processing critical data in a public cloud environment

KT has built a public financial cloud for the financial sector.

KT announced on the 6th that it is opening a dedicated financial cloud at the 'Mokdong IDC 2 Center' in Yangcheon-gu, Seoul.

Various financial services are accommodated here, including KEB Hana Bank's 'GLN Platform,' the nation's first private financial cloud, and the 'Zero Pay Point Platform.'

As the adoption of cloud technology is expected to expand across the financial sector, KT plans to continue securing related services, such as specialized consulting for digital innovation in the financial sector and support for regulatory audits.

KT’s dedicated financial cloud can process critical data for financial institutions in a public cloud environment while complying with the Financial Supervisory Service’s security guidelines.

In particular, the Financial Security Institute has the infrastructure in place to enable integrated security monitoring of cloud services. This is expected to shorten the suitability review period for accepting new financial services.

Cloud utilization in the financial sector is expected to increase further.
Previously, the domestic financial sector limited the use of cloud services to tasks that did not handle sensitive information, such as HR systems or websites, and restricted their use for critical data like personal credit information. To utilize this, financial institutions had to establish private environments, including dedicated data centers and networks.

However, with the implementation of the amendment to the Electronic Financial Supervision Regulations in January of this year, the use of the cloud has also become possible for personal credit information and unique identification information. However, a total of 141 items, including basic and additional protection measures presented by the Financial Security Institute as a cloud usage guide, must be complied with, and for the commercialization of the service, it must undergo a stability evaluation by the Financial Security Institute and receive a suitability judgment through on-site inspection.

KT has also been operating a 'Virtual Private Cloud (VPC)' with enhanced security based on a private environment and a 'Financial Security Data Center (FSDC)' since before the implementation of the revised Financial Supervision Regulations.

We also collaborated with electronic financial solution providers Webcash and Geno Solution to provide expert consulting on related administrative procedures, such as electronic financial business registration. This served as a testbed for the full-scale deregulation of financial cloud services and helped over 70 financial institutions and fintech companies smoothly launch their businesses.

With the addition of KT’s dedicated financial cloud in a public environment, KT’s cloud product lineup for financial companies has expanded to include ▲Enterprise Cloud (Private) ▲Independent Cloud (VPC, FSDC/Private) ▲Dedicated Public Cloud (Public).

Kim Ju-seong, Senior Vice President of KT’s Cloud Business, said, “Starting with the introduction of KT’s dedicated financial cloud that fully complies with the financial regulatory environment, KT will strive even harder to lead the domestic financial cloud market.”