KT, the South Korean telecom company, announced it is launching a mobile wallet service for the Apple iPhone.

According to the Korea Herald, KT, South Korea's second-largest mobile operator behind SK Telecom, will introduce a new case for the iPhone that will enable it to use NFC technologies to exchange data and make payments.

The Korea Herald reports the case has been certified by Apple and is being developed by Wireless Dynamics Inc., a Canadian company. The company said this will be the first commercial application of the case anywhere in the world.

KT launched mobile applications for pre-paid subway charges and credit cards plans, the Korea Herald reports, and plans on adding to the list of credit cards, coupons and mobile wallet applications that can be used with the new iPhone NFC case.

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