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Finance

Kakao Pay waives payment fees for new merchants to expand payments ecosystem

Kakao Pay will waive Kakao Pay Money payment fees in full for newly signed offline merchants that are small and medium-sized businesses through the end of this year. The program applies to businesses with annual sales of 500 million won or less that complete sign-up and screening from May 18 to June 30. Kakao Pay will also provide a marketing package, free payment kits, support for local currency and policy subsidy payments, and foreign tourist payments.

Crypto

iM Bank completes full lifecycle tech test for won stablecoin with OpenAsset

iM Bank has completed a proof-of-concept that implements the full process for a won-denominated stablecoin, from issuance to payment, settlement and burning. The bank said it finished the project with digital-asset infrastructure firm OpenAsset on May 20. The test issued an iM Bank stablecoin, iMKRW, on the Kaia blockchain and demonstrated top-ups, QR-based payments and merchant settlement using the DAGAON wallet service. The bank said it ran about 80 scenarios without errors.

Games & Commerce

Going beyond Korea, localisation key to global sales for online mall startups

Interest from overseas consumers in Korean brands is rising, but many small sellers struggle to turn that attention into sales without localised shopping environments. Data showed Korea’s online direct overseas sales rose 16.4% last year to 3.02 trillion won, while domestic e-commerce growth slowed. The article says global sales require localisation across language, payments and logistics, and describes Cafe24’s tools and services to support multi-language stores, local payment options and international delivery operations.