Large scale computer hacks have forced the South Korean government to consider issuing new identification numbers to all its citizens. CCTV America’s Shane Hahm reports from Seoul.
Roughly 80 percent of the South Korean population have been victims to personal data leaks, including President Park Geun-hye. With a population of 50 million, the cost of issuing new IDs is expected to top $500 million.
Every South Korean citizen receives a permanent lifetime ID number at birth. This number is used for everything from tax filings and credit card applications, to real estate transactions and Internet website registrations, making it an easy target for hackers.
South Korea has built one of the fastest Internet networks in the world, but security measures have not kept pace with connection speeds.
Earlier this year, thieves made off with the personal information of millions of customers at three major credit card companies, forcing many to question how businesses store customer data.
It could take up to a decade to re-issue new ID numbers. Despite the high cost, experts said the plan is needed in the long term.