Korea Publishing Association President Kim Tae-hun: 'We Will Create a Fair Distribution System for AI Readers' "I believe a new type of 'AI reader' is emerging. It's a market where AI reads books and answers our questions," said Kim Tae-hun, the newly appointed president of the Korea Publishing Culture Association (KPCA), during a press conference held in Jongno-gu, Seoul, on May 13. He emphasized the need for the publishing industry to respond quickly and rationally to the AI era, stating, "We will contribute to the development of Korea's AI industry." Kim highlighted the importance of fair comp May 13, 2026

The Rise of Mobile Payments: A Shift in Financial Transactions Mobile payments are rapidly replacing cash and physical cards, becoming the central method for everyday transactions. As their use expands across online shopping, brick-and-mortar stores, and money transfers, experts say they are transforming overall financial consumer behavior. According to the financial sector, the average daily usage of mobile payment services last year reached 35.57 million transactions, totaling 1.1053 trillion won. This marks increases of 14.9% and 14.6%, respectivel May 13, 2026

South Korea Advances Development Finance Initiative with New Advisory Committee The South Korean government has established an advisory committee to promote its development finance initiative. Heo Chang, the Deputy Minister of Finance, chaired the first meeting of the Development Finance Advisory Committee on May 13 at the Government Seoul Complex. Earlier, Deputy Prime Minister and Minister of Finance Koo Yun-cheol announced at a recent meeting on external economic affairs that the government aims to advance Korean-style development finance to support the country's e May 13, 2026

Government Enhances Effectiveness of National Contract Dispute Mediation System The government is taking steps to enhance the effectiveness of the National Contract Dispute Mediation System by listening to the voices of small and medium-sized enterprises facing disputes. On May 13, the Ministry of Finance and Economy held the "2026 First National Contract Dispute Mediation System Briefing Session" in collaboration with the Korea Federation of Small and Medium Businesses. The National Contract Dispute Mediation System allows procurement companies to request mediation May 13, 2026

Shinhan Card Integrates Payments and Asset Management with SOL Pay Shinhan Card's lifestyle finance platform, Shinhan SOL Pay, is expanding its offerings by integrating payment, asset management, travel, and convenience services into a comprehensive financial platform. As of the end of February, Shinhan Card reported that the number of subscribers to Shinhan SOL Pay has reached approximately 20 million. The company aims to encourage customers to use Shinhan SOL Pay across various payment scenarios, thereby accumulating data to enhance customer experie May 13, 2026

KakaoPay Expands Payment Platform with 1.13 Million Merchants KakaoPay is strengthening its competitiveness as a comprehensive payment platform by expanding into overseas payments, membership services, and utility bill payments.As of May 13, KakaoPay reported that it launched South Korea's first simple payment service for online transactions in 2014 and introduced offline payment services in 2018. Currently, KakaoPay is available at 1.13 million merchants nationwide. It also supports payments at 3 million locations through Samsung Pay and 1.1 million small May 13, 2026

Naver Pay Expands to Offline Payments with 86 Trillion Won in Transactions Naver Pay (Npay) is accelerating its expansion into the offline payment market by leveraging its point ecosystem and the integrated terminal 'Npay Connect.' The service is transitioning from an online-centric model to encompass offline store operations and marketing, broadening its reach as a platform for small businesses. According to Naver Financial, Npay maintained its position as the leader in South Korea's mobile payment market with an annual transaction volume of 86.1 trillion won la May 13, 2026

KB Kookmin Bank Launches QR Payment Service in Indonesia KB Kookmin Bank is expanding its QR payment service throughout Indonesia, intensifying its efforts in the local easy payment market.Since May 1, KB Kookmin Bank has been offering the cross-border QR payment service, known as the 'KB Star Banking Overseas Payment Service,' across Indonesia.This cross-border QR payment service connects domestic financial institutions with overseas payment agencies through the Financial Payment Agency, enabling QR payments via financial applications in both countri May 13, 2026

NH Nonghyup Bank Accelerates Digitalization with NH Pay NH Nonghyup Bank is advancing the digitalization of everyday life through its NH Pay service. NH Pay has launched a convenient payment service linked to both Nonghyup Bank accounts and agricultural cooperative accounts. When linked, payment amounts are settled directly from the bank account. The bank has revamped its existing app infrastructure to allow NH Pay to be used seamlessly across various apps from its affiliated companies. A notable example is the integration of the Nonghyup Card May 13, 2026

K-Bank Launches Lottery Ticket Sales with Easy Recharge Service K-Bank is entering the lottery ticket sales market by utilizing its easy recharge service, making it the only bank to offer such a service. K-Bank has partnered with Donghaeng Lottery to introduce a convenient recharge service that allows customers to quickly and easily top up their deposits for online lottery purchases. The easy recharge service enables customers to fund their K-Bank accounts with the desired deposit amount and recharge their accounts with just one click when purchasing May 13, 2026