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Finance
Korea Financial Investment Association discusses cooperation on Indonesia new capital development with ambassador
The Korea Financial Investment Association said on Tuesday its chairman, Hwang Sung-youp (황성엽), met Indonesian Ambassador to South Korea Cecep Herawan to discuss ways to expand bilateral investment cooperation, including Indonesia’s new capital relocation project. Indonesia outlined its investment and industrial policies and foreign investment strategy, and expressed willingness to broaden cooperation with Korea’s financial investment industry. Hwang said the association would explore cooperation such as real asset investment.
Finance
KB Kookmin Bank launches Korea-Indonesia QR payment service
KB Kookmin Bank said it has expanded the coverage of its cross-border QR payment service, the KB Star Banking overseas payment service, to all of Indonesia. The service links domestic financial firms with overseas payment institutions so users can pay by QR code abroad through their home-country financial apps. The expansion enables QR payments at about 32 million merchants across Indonesia and aims to reduce risks such as card copying and personal data leaks.
AI & Enterprise
Xenon sets up Indonesia unit to target Southeast Asia AX market
Generative AI solutions company Xenon said on Tuesday it has established its first overseas subsidiary in Jakarta, Indonesia. It held an opening ceremony in the city and appointed Kim Tae-ryong, its overseas business development lead, as the first head of the unit. Xenon said it has built overseas capabilities through vision AI-based quality inspection automation proof-of-concept projects since 2023 and has delivered sales results since last year. It plans to expand across Southeast Asia.