Based upon the carriers listed as offering the service (KTF and LG Telecom), this appears to be a Brew application.

Yang said that customers will need a Kookmin Card service and to download the mobile payment settlement program from Kookmin Card's website onto their handsets in order to use the service. Only KTF (016 and 018) and LG Telecom (019) mobile service users will be able to utilize the service. ... Customers will be able to settle payments by pointing their phones at the point-of-sale (POS) device at the sales counter and pressing their password into the phone's keypad, just as they do when they switch TV channels with remote controller. Then the money will be charged to their credit card.

I'm interested in learning more about this -- if you have more information on this offering, please email me.

Visa International has posted version 2.0 of its Proximity Payments Messaging Specification.

Sue Gordon-Lathrop, VP Emerging Consumer Enviroments at Visa International, pens this article on the need for proximity payment solutions.

With all proximity payments technologies, Visa is providing support to its member banks based on the demands and requirements of their customers. Even as a mature technology proximity payments will not replace the trusted plastic payment card; rather it will add value and utility to the cardholder, and improve efficiencies for merchants.

More on proximity payments from Visa's corporate web site.

American Express this morning introduced the new Cash Rebate Card.

Cash Rebate of up to 5% - The cash reward is based on customer spend and payment behaviors. The annual cash reward for purchases is up to 3%. There is an additional rebate of up to 2% for purchases in months in which the account carries a balance. An account is eligible for a rebate applied to a maximum of $50,000 of eligible annual spending.

American Express is uniquely positioned to be able to offer the highest cash rebates to consumers -- should this become a new industry battleground -- because, all other things being equal, Amex's higher merchant discount provides more revenue than that achieved by the other card brands. Discover, long the leader in the rebate card category, is likely in the worst position (from a P&L perspective) as its merchant discount is typically the lowest of the card brands.