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KT to launch mobile payment service for iPhone

SEOUL, Sept. 19 (Yonhap) -- South Korea's telecom titan KT Corp. said Monday that it will roll out a new service for Apple Inc.'s iPhone, which will turn the smartphone into a mobile wallet for wireless financial transactions.

The country's second-largest mobile operator plans to introduce a new smartphone case for the iPhone based on near field communication (NFC) technology, which allows a wireless exchange of data within a 10 centimeter range, it said.

The NFC case will enable users to make credit card payments or pay subway fees by simply waving their iPhone over an electronic reader, KT said.

Apple certified the case, which was developed by Canada-based Wireless Dynamics Inc. and will be commercialized by KT for the first time in the world, the operator said. 

The wireless carrier, which is the dominant fixed-line operator in South Korea, also rolled out mobile applications for pre-paid subway charges and credit cards.

It plans to add a list of credit cards that can be used on the iPhone and its NFC case, as well as mobile coupons and mobile wallet applications.   

Apple's iPhone is currently offered by SK Telecom Co. and KT, the country's two largest mobile carriers.