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Games & Commerce

Korea Post to cut delivery costs for small merchants on direct-to-consumer sites with Cafe24 deal

The Ministry of Science and ICT’s Korea Post will work with Cafe24 to reduce logistics and financial burdens for small merchants running or preparing their own direct-to-consumer shopping sites. Under the agreement, contracted parcels can be sent from 2,900 won depending on weight and size, with additional discounts for some international mail services. Korea Post will also waive key fees for savings customers and apply a preferential interest rate of up to 0.15 percent a year.

Games & Commerce

Closetnine reports sixfold sales rise in five months after adopting Cafe24 Pro Marketing

Womenswear brand Closetnine said its sales rose to about six times the pre-adoption level in the five months after introducing Cafe24\'s Pro Marketing service. The company said return on ad spend stayed in the 700 percent range. Founder and CEO Kim Min-ju said the service helped by outsourcing product selection for ads and performance analysis, easing the burden on a one-person operation and freeing time for product shoots and social media communication.

Finance

Digital asset institutionalisation picks up pace as big platforms clash over entry into online lending industry

Cooperation between traditional financial firms and crypto-asset operators is expanding, with moves by Kakao Group, brokerages and exchanges. In the United States, the OCC gave preliminary approval to two digital banks pursuing crypto custody and stablecoin business. In South Korea, the Democratic Party plans to draw up a Digital Asset Basic Act this year. Competition is also shifting across platform finance, raising questions about entry rules, conflicts of interest, consumer choice and security.