'Computerized' bank cards coming to Korea

The Bank of Korea said Monday that from next year integrated-circuit (IC) chips would replace magnetic strips in bank cards. Korea's Financial Supervisory Service said it plans to issue IC credit cards on a trial basis starting in March 2004.

Source: Chosun Ilbo

Starting next year, bank and debit cards that use magnetic strips are to be replaced with cards that have integrated-circuit (IC) chips, which are virtually impossible to duplicate or modify.

The Bank of Korea (BOK) said Monday that the

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