[DigitalToday reporter Ji-young Lee] The simple payment industry is expanding the scope of its services. It is increasing where services can be used by linking existing payment networks or supplying payment infrastructure to new sectors.

Toss is moving to expand user touchpoints for its facial recognition payment service, FacePay. It will run a trial group at the Busan International Rock Festival in October and launched an event offering a 50 percent discount on payment amounts.

The expansion of payment services is also continuing among merchants and across industrial sites. Companies are increasing acceptance through interlinking existing payment networks and are extending payment infrastructure into new sectors such as education and agricultural distribution.

Kukon has linked QR payments for Kakao Pay and Seoul Pay, enabling Kakao Pay payments at about 270,000 Seoul Pay merchant locations. The approach expands simple payment acceptance without building separate infrastructure by using existing payment networks.

NHN KCP is providing a card payment service for auction payments at 11 agricultural wholesale markets nationwide. Intermediate wholesalers can pay auction amounts by card and secure up to 30 days for fund operations. It plans to expand the service to 33 public wholesale markets.

Naver Pay is working with Sidae Injae to supply payment infrastructure to 11 offline locations nationwide and its online education service. It will provide payment services linked to Naver Pay Money, points, cards and virtual accounts, and plans to expand the scope in stages.

• Toss to push through FacePay controversy head-on... rock festival trial and half-price discount offensive • Kukon links Kakao Pay and Seoul Pay... QR payments at 270,000 merchants • NHN KCP supports card payments for agricultural wholesale market auction amounts... applied at 11 locations nationwide • Naver Pay supplies payment infrastructure to Sidae Injae... first applied to 11 locations and online

Shinhan Bank succeeded in retaining Incheon city's No. 1 treasury contract worth 17 trillion won, keeping a treasury operating right it has held for nearly 20 years.

Hana Bank challenged by highlighting its plan to relocate the group headquarters to Cheongna and expand regional financial support, but Shinhan Bank defended successfully by stressing its treasury operating experience and the stability of its IT infrastructure.

Shinhan Bank will continue operating Incheon city's No. 1 treasury from 2027 to 2030. It also reaffirmed its presence in competition for treasury contracts among large metropolitan local governments in the Seoul area by retaining Incheon after holding on to Seoul city's No. 1 and No. 2 treasury contracts this year.

• Held a 20-year fortress... Shinhan Bank retains 17 trillion won Incheon city treasury

Internet-only banks are expanding non-face-to-face lending and moving to target a loan market centered on traditional banks. They are raising the convenience of mobile loans by launching new loan products and linking administrative information.

KakaoBank has entered the group loan market, allowing it to offer move-in loan products for new apartment residents to finance remaining purchase payments. The entire process, from checking limits and rates to execution, can be handled on mobile.

Toss Bank became the first internet-only bank to receive household move-in information online from the Ministry of the Interior and Safety. As the bank can directly verify information needed for loan screening, it can reduce customers' burden of submitting documents.

The fintech industry is also using alternative credit assessment and loan-linked services to raise financial access for mid-to-low credit borrowers. It is doing so by using information not fully reflected in traditional credit evaluation or by providing livelihood stability funds.

Kakao Pay has joined hands with SBI Savings Bank and KCB to develop financial products using an alternative credit assessment model, Kakao Pay Score.

Pinda's livelihood stability loans have surpassed cumulative supply of 16 billion won. Some 95 percent of total loans are supplied to mid-to-low credit borrowers, and the product is being used as a funding channel for them.

• KakaoBank enters group loan market... remaining purchase payment loans on mobile • Interior ministry provides Toss Bank with household move-in information online... first applied to an internet-only bank • Kakao Pay, SBI Savings Bank and KCB expand inclusive finance based on alternative credit assessment • Pinda livelihood stability loans surpass 16 billion won... 95 percent supplied to mid-to-low credit borrowers

Changes to financial-related systems are also continuing, including support for young people's asset building, easing transport fare burdens and strengthening security for electronic payment settlements. Measures to provide everyday financial support and secure the safety of electronic financial transactions are being pursued in parallel.

The Financial Services Commission will accept second-round applications for the Youth Future Savings Deposit from Oct. 7 and will additionally allow existing Youth Leap Account subscribers to switch. The move aims to widen opportunities for young people to build assets.

In the transport fare support area, as the Climate Companion Card is being converted into the Climate Companion Pass based on Everyone's Card, competition among financial companies to secure transport customers is entering a new phase. Policy refund criteria apply in common, but differentiation is being made through additional discounts by card companies and everyday service benefits.

The FSC also launched an emergency inspection of security risks at payment gateway firms. It is checking security risks for electronic financial transactions by looking not only at the firms' own systems but also at the possibility of detour attacks through merchants.

• Second-round applications for Youth Future Savings Deposit from Oct. 7... additional allowance for switching Youth Leap Accounts • From Climate Companion to Everyone's Card... new phase in financial sector race to secure transport customers • FSC launches emergency check of security risks at payment gateway firms... also looks at detour attacks via merchants

With the introduction of the Korea Exchange's after-market, KOSPI and KOSDAQ trading hours have been extended to 8 p.m., and competition over post-regular session trading has also begun in earnest.

Trading value on the first day of the after-market reached 1.8 trillion won, showing strong interest as retail investors accounted for 93 percent of trading.

But as the volatility interruption device was triggered 1,112 times on the first day, securing market stability has emerged as a task alongside the convenience of longer trading hours.

In capital markets, institutional improvements for investment products and inspections and investigations by financial authorities have also emerged as key issues. President Lee Jae-myung (이재명) said there were shortcomings in the policy on single-stock leveraged ETFs.

The Financial Supervisory Service directly investigated SpaceX subscribers, and a Mirae Asset union protested, saying the inspection method was excessive.

Authorities also launched an investigation into allegations that a Samsung Active Asset Management fund manager engaged in front-running in ETF constituent stocks, as inspections and investigations related to capital markets continued.

• After-market competition begins in earnest... KOSPI and KOSDAQ stock trading until 8 p.m. • KRX after-market logs 1.8 trillion won on first day... retail share 93 percent • KRX after-market triggers volatility interruption 1,112 times on first day... concerns over extreme volatility • President Lee: "There were shortcomings in the single-stock leveraged ETF policy" • FSS directly investigates SpaceX subscribers... Mirae Asset union protests "excessive inspection" • Samsung Active Asset Management fund manager suspected of front-running in ETF constituent stocks... authorities investigate

Ahead of the introduction of digital asset taxation in 2027, controversy is also being raised over fairness with the financial investment income tax and the need to supplement tax infrastructure.

As the government takes a cautious stance on introducing the financial investment income tax but pushes ahead with digital asset taxation as scheduled, the industry is pointing to fairness in tax burdens and insufficient preparation for taxation.

The National Assembly Budget Office pointed out that, as it is difficult to identify transaction histories through overseas exchanges and personal wallets, stronger tax base management and clearer taxation standards are needed.

It proposed preparing incentives that can encourage the use of domestic exchanges and building a system that automatically calculates acquisition costs and gains and losses and supports reporting.

• "Need incentives for domestic exchanges and automatic reporting before digital asset taxation takes effect" • Cautious on financial investment income tax, pressing ahead with digital asset taxation... fairness controversy persists

Other major moves in the finance and fintech industries were also compiled.

The financial sector is moving to expand AI-based financial services and strengthen overseas business. KB Kookmin Bank launched a conversational AI, KB AI, that can handle inquiries and transfers, and KB Securities introduced an investment performance analysis service, Kkaebio, into its mobile trading system. Shinhan Bank joined Kakao's Everyone's AI consortium to seek financial AI services, while Shinhan Investment Corp is expanding cooperation with financial institutions in Japan, Hong Kong and Vietnam to broaden its overseas business base.

• KB Kookmin Bank launches conversational AI KB AI... beyond search to inquiries and transfers • KB Securities launches Kkaebio investment performance analysis on MTS • Shinhan Bank joins Kakao consortium for Everyone's AI... seeks financial AI services • Shinhan Investment Corp expands cooperation with Japan, Hong Kong and Vietnam

Hana Financial Group is expanding its digital asset business. With Hanwha Asset Management, it agreed to cooperate with Abu Dhabi's ADGM in stablecoins and cross-border payments, and Hana Securities is also pursuing cooperation on digital asset business with Upbit Global. Hana Bank posted a 42 percent share of the Nara Sarang Card, securing military customers. Woori Financial Group supplied 25.3 trillion won in productive finance, reaching 116 percent of its annual target.

• Hana Financial Group and Hanwha Asset Management join hands with Abu Dhabi ADGM... cooperation on stablecoins and cross-border payments • Hana Bank logs 42 percent share of Nara Sarang Card... 158,000 accounts for Ahn Yu-jin card • Hana Securities cooperates with Upbit Global on digital asset business • Woori Financial Group supplies 25.3 trillion won in productive finance... achieves 116 percent of annual target

JB Financial Group is working with Upstage to develop finance-specialized AI, expanding group-level AX transformation. Toss Bank introduced a "lock" function to a children's passbook piggy bank to prevent impulsive withdrawals by children and plans to support the formation of saving habits.

• JB Financial Group and Upstage cooperate to develop finance-specialized AI... expands group AX • Toss Bank adds "lock" function to children's passbook piggy bank... blocks impulsive withdrawals

Naver Pay expanded its service to allow users to compare loan products from the three internet-only banks in one place by linking KakaoBank's loan products for sole proprietors. Kakao Pay also strengthened financial services for small business owners by launching a sole proprietor-only Business Credit Management service that allows users to check credit information and the likelihood of loan approval.

• Naver Pay links KakaoBank sole proprietor loans... enables comparison of three internet-only banks • Kakao Pay launches sole proprietor Business Credit Management... also checks likelihood of loan approval

The fintech industry is expanding its business scope into areas ranging from improving corporate management efficiency to financial services for foreigners. Webcash set up Gyeongri Nara at 112 ID Hair stores. Nol Universe has expanded payment services for foreigners by surpassing issuance of 10,000 prepaid cards for foreigners.

• Webcash sets up Gyeongri Nara at 112 ID Hair stores • Nol Universe surpasses issuance of 10,000 prepaid cards for foreigners