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Finance

KB Kookmin Bank runs cooperative open store in Jeonju

KB Kookmin Bank will run a cooperative \"open store\" in Jeonju to help expand sales channels for local small merchants and boost the regional economy. The bank will operate the event with Hyundai Department Store and the National Pension Service from July 6 to 9 at the NPS Happiness Pension Hall in Jeonju, North Jeolla Province. The bank will cover operating costs, while partners provide brands, space and promotion. Consulting booths and seminars are also scheduled.

Finance

Naver Pay to improve small merchant payment environment with Npay Connect

Naver Pay will work with the Small Business Hope Foundation to improve digital payment infrastructure at small merchants’ stores. Naver Pay said it signed a business agreement on July 1 at the foundation in Seoul to promote digital transformation and greater use of digital tools by small merchants. The partners plan cooperation projects to improve payment environments and operational efficiency, centered on the offline integrated terminal Npay Connect.

Finance

Woori Financial relocates microfinance hub to Changsin-dong to boost support for alleyway retail districts

Woori Financial Group is relocating its microfinance base to Changsin-dong, an area with many small merchants, to expand on-site inclusive finance. The group moved the Woori Smile Microfinance Foundation’s Seoul branch from Euljiro and held an opening ceremony. It plans to add local hubs to raise branches to 12 from 8 and launch a self-reliance programme selecting 200 stores. Woori also aims to increase annual microfinance supply to 20 billion won by 2028.