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Finance

Hecto Financial joins global AI payment standard x402 to accelerate AI agent payments

Hecto Financial is stepping up its AI agent payment business by taking part in building a global AI payment standard. The company said on July 20 it joined the x402 Foundation, an open-source project developing standards for AI agent payments. It plans to combine its existing payment and settlement infrastructure with the Circle Payment Network and x402. Hecto Financial also completed a proof of concept based on Google’s AP2 standard and aims to commercialise it in the third quarter.

Finance

Coocon posts 4.47 billion won Q1 operating profit, expands stablecoin and AI businesses

Coocon is expanding its business by positioning global payments, stablecoins and AI-based data services as its next growth drivers. First-quarter revenue fell 7.5 percent from a year earlier to 16.01 billion won, while operating profit rose 1.9 percent to 4.47 billion won. The company said it defended profitability through fee-based business expansion and cost efficiency, and plans to strengthen overseas payment links and stablecoin-based payments.

Finance

KOSPI enters pause as financial sector faces pressure for inclusive finance

South Korea’s stock market has surged on an AI semiconductor rally, pushing the KOSPI above 8,000 for the first time and lifting market value to sixth in the world, ahead of Taiwan. Brokerages posted strong first-quarter results as trading rose. Caution is also growing over volatility after the sharp run-up. Separately, “inclusive finance” has emerged as a key issue as banks and financial groups face pressure to expand support for vulnerable borrowers and strengthen public responsibility.