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Finance
Coocon Q2 operating profit up 6.3 percent to 4.96 billion won
Coocon posted year-on-year growth in both revenue and operating profit in the second quarter and plans to expand new businesses in the second half. The company reported second-quarter revenue of 17.96 billion won and operating profit of 4.96 billion won. It launched an MCP-based data API and linked global mobile payment services, and completed a stablecoin proof of concept. Coocon also plans to establish a local unit in Singapore this year.
Finance
PG firms team up to block fraudulent payments, rate hike fallout in focus
South Korea\'s fintech sector is expanding payment infrastructure while strengthening security and user protection. The Financial Supervisory Service and the Korea Fintech Industry Association launched a consultative body with major payment gateway firms to curb suspicious transactions. The Bank of Korea raised its policy rate to 2.75 percent, the first hike in 3.5 years, prompting tighter household lending management. Authorities also plan higher deposits and trading units for single-stock leveraged ETFs.
Finance
Cucon links global payments to Toss Place terminals
Cucon will link about 50 global mobile payment services to Toss Place payment terminals, allowing merchants to accept mobile payments from foreign visitors using existing terminals. The company said Seoul-based stores using Toss Place terminals will be able to use services including UnionPay, WeChat Pay and Indonesia’s QRIS. The service connects Cucon’s global payments infrastructure with Seoul Pay and overseas payment firms.
