Following K Bank, Kakao Bank now provides solutions.

Hancom Secure announced that it has supplied its encryption key management solution, ‘XecureKeyManager,’ to Kakao Bank, following K Bank, Korea’s first internet-only bank.

A cryptographic key is a key value required for the algorithm that encrypts and decrypts data. No matter how strongly you encrypt sensitive data, if this key is leaked, the encryption becomes useless. Therefore, financial institutions handling sensitive customer information require thorough measures to manage their cryptographic keys.

Kakao Bank, which surpassed 1 million subscribers in just five days of launching its service, implemented Hancom Secure's encryption key management solution, SecureKey Manager, across all business processes to ensure robust security based on a unified policy. By centrally and systematically managing the entire encryption key lifecycle, from creation to disposal, Kakao Bank was able to completely eliminate concerns about encryption key security.

Hancom Secure's 'SecureKeyManager' complies with OASIS's KMIP (Key Management Interoperability Protocol), an international standard for encryption key management, enabling stable operation and compatibility with various solutions. Additionally, it is linked with Thales' Hardware Security Module (HSM), which has received FIPS 140-2 Level 3 certification from the U.S. NIST, providing high security and safety at the level of military secret processing.

A Kakao Bank official said, “Most laws related to personal information protection, including the Personal Information Protection Act’s subordinate regulations on measures to ensure the security of personal information, the Electronic Financial Supervision Regulations, and the ISMS certification standards, stipulate that encryption key management procedures must be established and implemented, so we have adopted the strongest security policy.”

Lee Sang-heon, CEO of Hancom Secure, said, “We have applied a security solution optimized for the customer environment while adding stronger security features to Kakao Bank than existing methods,” and “We expect that consumer trust in internet banking transactions will increase even further with the successful launch of the service.”