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UNNET Supplies TarantulaDB for KOSCOM's Next-Generation Ledger System

Software1 min read

UnitNet says it supplied its PostgreSQL-based database, TarantulaDB, to Korea Securities Computer (KOSCOM) for a new core ledger system. The project is one of the first in Korean finance to use cloud-native design for core business systems.

What happened

UnitNet announced that it supplied TarantulaDB, a commercial database program, to KOSCOM's next-generation ledger system project, called 'Power Base 5th Generation.' The new system is a hybrid. It keeps the stable old system, which is written in the C language, and adds new cloud-native technology. The old and new systems run side by side, so financial transactions keep working while the new one grows.

Key facts

  • TarantulaDB is built on PostgreSQL, a free open-source database.
  • The project moves old C-language source code to Java.
  • KOSCOM used AI to help write job specifications and to automate testing.
  • KOSCOM applied its own Java-based development platform, called FICO.
  • Traffic for each service is spread out across the system.

Background

A ledger system keeps the official record of money moving in and out. It must handle huge numbers of transactions without errors. TarantulaDB adds features on top of PostgreSQL, such as automatic failover, which switches to a backup database when the main one fails. It also spreads work across several servers to keep services running.

Why it matters

Banks and financial firms are moving to the cloud, modernizing IT, and trying to cut costs. Interest in open-source databases for business use is growing. UnitNet's CEO said that stability and technical support are the key strengths in this area. The deal could show that open-source databases can work in core banking systems in Korea.

What to watch

  • Whether the hybrid system runs smoothly as transaction volume grows.
  • Whether other Korean financial firms adopt PostgreSQL-based commercial databases.
  • How the old C-language system is fully replaced by the new Java-based one.

Glossary

TarantulaDB
A business database program from UnitNet, built on the open-source PostgreSQL system.
PostgreSQL
A free, open-source database system that many companies use to store data.
KOSCOM
A Korean company that builds and runs IT systems for the securities (stock) industry.

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