Korea Financial Telecommunications & Clearings Institute (KFTC), has announced an OpenChain ISO/IEC 5230 Conformant program. KFTC is a leading financial institution that provides essential infrastructure and services for the Korean financial industry.
To meet the requirements of the OpenChain ISO/IEC 5230:2020 standard, KFTC has implemented a comprehensive open source program within the organization. This includes establishing an Open Source Program Office (OSPO), enacting guidelines for open source utilization, and developing an in-house open source management platform. The platform automatically identifies open source components and licenses used in the software development lifecycle, providing guidance to employees.
“In today’s rapidly evolving IT landscape, characterized by AI, big data, and cloud computing technologies, leveraging open source software is not just beneficial—it’s essential,” said Lee Songwon, CIO of KFTC. “Based on our capabilities in open source utilization and management, KFTC will continue to foster a robust open source ecosystem through collaboration with other financial and public sector organizations across Korea.”
About KFTC (Korea Financial Telecommunications & Clearings Institute):
Korea Financial Telecommunications and Clearings Institute (KFTC), jointly founded by the Bank of Korea and commercial banks in 1986, has been a leading institution in developing and operating Korea’s national payment and settlement infrastructure. Over the years, KFTC has introduced various advanced payment systems, including the CD/ATM network and the Real-time Fund Transfer network. In the digital era, KFTC launched the Payment Gateway for e-commerce, Point of Sales (POS) networks for payment card transactions, and mobile payment networks. As the country transitioned to Open Finance, KFTC played a pivotal role in developing Korea’s Open Banking platform, enabling seamless and secure data sharing between financial institutions and fintech companies.
Learn more at https://eng.kftc.or.kr
About the OpenChain Project:
The OpenChain Project has an extensive global community of over 1,000 companies collaborating to make the supply chain quicker, more effective and more efficient. It maintains OpenChain ISO/IEC 5230, the international standard for open source license compliance programs and OpenChain ISO/IEC 18974, the industry standard for open source security assurance programs.
About The Linux Foundation:
The Linux Foundation is the world’s leading home for collaboration on open source software, hardware, standards, and data. Linux Foundation projects are critical to the world’s infrastructure, including Linux, Kubernetes, Node.js, ONAP, PyTorch, RISC-V, SPDX, OpenChain, and more. The Linux Foundation focuses on leveraging best practices and addressing the needs of contributors, users, and solution providers to create sustainable models for open collaboration. For more information, please visit us at linuxfoundation.org.
