Electronic Signature – Safety Lock in Cyber Space

The occurrence of illegal stock trading of Delta Information Communication through on-line makes person to focus on electronic signature to prevent this kinds of crime.

Electronic signature is a kind of digital registered seal impression for the safety of on-line trading. It can be used to identify the other party, to confirm the forgery of trading contents and to certify the trading of Internet banking, cyber stock trading, on-line shopping, etc. From the September, all of commercial banks will issue official certificate of authentication of electronic signature to new members, so the electronic signature users are expected to increase rapidly. Stock companies are preparing to imply the service because the official certificate of authentication will be compulsory from the May of the next year.

Cha Shin-yang, Senior Officer for Information Protection Plan of the Ministry of Information & Communication (MIC) estimated, “The users of certificate of authentication will be 10 million persons at the end of this year from 3.62 million persons at present.”

▽ The theory of electronic signature= to identify the other party on Internet, a pair of key of electronic signature is used. It is the same theory that ancient persons join broken mirror or coin to identify each other. Electronic signature is composed of personal key that is kept in user’s OC and opened key that is maintained by authorized certificating center. So it protects users from the forgery reuse of electronic signature by hackers. The key of electronic signature is codified data in combination form of number, letters, code like ‘2D3F129+8A4…757A8’.

Lee jae-il Team leader of Korea Information Security Agent talked “ if electronic signature is used, a third party can’t use another’s private seal by stealth, and the other party of a trading can’t deny the trading fact.

▽ The difference between public certification and private certification= the purpose of the signatures are different. The Public electronic signature issued by a public certification authority will be used for banking, stock trading, public office, etc. On the other hand, the private signature can be used for restricted purpose such as shopping mall, B2B, cyber VAN, etc.

In legal validity, the public certificate has the same effect to off-line signature. If a accident happens without users mistake, the public certification authority should be responsible for. However, the private certification has restricted to the agreement and involves complicate process to solve the matter.

▽ For what the signature is used= the public certification is indispensable one for security financial transaction banking, cyber stock trading, etc. At the moment, a user having a public certificate can do most of Internet transaction of most of commercial banks. To be issued Resident Register and Family Census Register by government electronic service, the user needs the public certificate. A user can be issued 140 kinds of public documents including ‘Home Tax’ of Korea Tax Service. Using electronic money or insurance transaction with the public certificate is better in security. The public certificate can be used for B2B contract and Internet trading with legal validity. Roh Kyung-bok team Leader of Korea Cross Certification estimated “ Electronic issue of public documents will be increased 4,000 kinds in the next year. So if a user has a public certificate, he/she can manage most of them.

▽ Join and application= the public certificate can be issued by registration agency of public certification authority. The easiest way is to join on-line banking service and gain free public certificate. The cost of issue is 10 thousand won for personal and 100 thousand won for corporation per year, but financial institutes pay it instead of the customers.

The public certificate is issued at bank, post office or registration agency after identifying real name. However, if a user has already completed the confirmation through PC banking or Internet banking, he/she can receive the public certificate through Internet. To use the public certificate, the user, firstly, should download and install certification program from the home page of registration agency and input permitted code on his/her PC. If the user saves the certificate in floppy disc or USB, the user can use the certificate in more than two PC.

Tae-Han Kim Chang-Won Kim freewill@donga.com changkim@donga.com