Search results for KCD
Finance
Small business sales up 4.5 percent but margins fall for second straight quarter; delinquencies rise
South Korean small business sales rose 4.53 percent in the second quarter from a year earlier, but profit margins fell for a second straight quarter as expenses increased faster, a report by Korea Credit Data showed. Average revenue per business was 47.11 million won, while average spending rose 5.83 percent to 35.22 million won. Delinquent amounts on sole proprietors’ loans rose 4.3 percent from the previous quarter to 15.2 trillion won.
Finance
Korea Payment Networks obtains prepaid licence, completes stablecoin payment PoC
Korea Payment Networks, a unit of Korea Credit Data, has completed registration to issue and manage prepaid electronic payment instruments, the company said on Aug. 18. It is discussing prepaid service integration with large franchises, retailers and public institutions. The company plans brand-specific prepaid and top-up point systems, as well as services linked to vouchers and local currencies. It has also completed a proof of concept enabling USDC payments through its payment gateway.
Finance
Korea Credit Data says foreign-issued card sales up 9.6 times in 3 and a half years
Sales at South Korean small merchants made with cards issued overseas rose about 9.6 times over the past 3 and a half years, Korea Credit Data said. The share of foreign-issued cards in small merchants’ card sales climbed to 1.2 percent from 0.2 percent. Spending was concentrated in Seoul and in certain sectors, with the top 1 percent of stores accounting for 66.9 percent of foreign card sales.
