[Pangyo Tech] NHN Payco to be chosen as an electronic signature authentication business for the first time in South Korea

NHN Payco announced on the 27th that it acquired electronic signature certification from Ministry of Science and ICT for the first time as a private certification business in South Korea.

Ministry of Science and ICT is running a program called “recognition and evaluation of electronic signature certification business” in order to secure stability and credibility of electronic signature certification services.


NHN Payco said it acquired electronic signature certification for the first time since it started the program recognizing stability and security capabilities that meet the criteria of electronic signature authentication services.

Through the acquisition of certification, “NHN Payco authentication certificate” has been able to gain public trust and lay the groundwork to expand to other areas of application.

NHN Payco expected it would gain an upper hand with “Payco authentication certificate” in the mydata market. A private certification which has been evaluated and recognized can be applied for integrated authentication tools for mydata services starting from January 2022.

Also, “Payco mydata” services are expected to improve user experience in the self-identification process by applying “Payco authentication certificate”.

In the meantime, “Payco authentication certificate” released in September is now applied to services such as Home Tax of The National Tax Service, government 24, National health insurance, Virtual Assistant Service for the Public, Anti-Corruption and Civil Rights Commission, personal customs clearance number and Wetax. 50 additional public services would be applied in the latter half of this year and the number of areas to which it is applied would increase further.

Pangyo Technovalley is an innovation hub for global companies comparable to the Silicon Valley in the US, Zhongguancun in China, and STATION F in France. It is an Asia tech hub with 1,259 IT, BT, CT, and NT companies that possess innovative products and technologies. Located just south of the metropolitan area, it provides the best environment for Korean companies to do business with great transportation access and infrastructure.

Various high-tech companies are located in Pangyo Technovalley, and it is occupied by 64,000 full-time employees, many in their 20-30s. In terms of industry, the companies are engaged in information technology, contents technology, biotechnology, and nanotechnology.

With the support of innovative companies with global capabilities such as Kakao, Naver, AhnLab, Krafton, NCSoft, Nexon, and Hancom, companies in Pangyo Technovalley recorded 107 trillion won in sales last year. Investment and infrastructure growth in Pangyo is expected to continue, with the Metaverse hub entering Pangyo this year.

Source: Pangyo Techno Valley Official Newsroom 

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