Toss's FacePay Surpasses 4.83 Million Users as Offline Payments Expand Viva Republica, the company behind Toss, is accelerating its expansion in the offline payment market with its facial recognition payment service, FacePay. The company is moving beyond simple payment solutions by designing its own terminals, POS systems, and payment infrastructure to create an integrated online and offline payment ecosystem. As of the end of last month, Toss announced that FacePay has reached 4.83 million subscribers. There are now 330,000 offline merchants that accept FaceP May 13, 2026

Woori Bank and Samsung Wallet Money Surpass 2 Million Users in Six Months Woori Bank, in partnership with Samsung Electronics, announced that its Samsung Wallet Money service has exceeded 2 million new users within six months of its launch. The service differentiates itself from existing payment options by allowing users to make online and offline transactions using only their smartphones, as well as offering ATM withdrawals and money transfer capabilities. Samsung Wallet Money is automatically registered in the Samsung Wallet, enabling payments with just a sma May 13, 2026

Hana Bank's GLN Expands Overseas QR Withdrawal Partnerships, Enabling Cash Withdrawals via KakaoPay in Japan Hana Bank's subsidiary, GLN International, is expanding its overseas QR withdrawal service in Japan, Vietnam, and Laos. This enhancement allows users of major domestic financial and platform apps to withdraw local currency without the need for currency exchange. The expansion focuses on the Japanese market, increasing the number of partner app channels from three to seven. Notably, KakaoPay, which enjoys high usage rates in Japan's mobile payment sector, has been added to the list of dome May 13, 2026

BC Card's Paybook Grows to 15 Million Users as a Lifestyle Finance Platform BC Card's lifestyle finance platform, Paybook, is expanding its customer reach by focusing on convenient payment options and lifestyle-oriented app technology services. As of this month, BC Card reports that Paybook has accumulated approximately 15 million members. The monthly active user count for the first quarter of this year has also increased by over 16% compared to the same period last year. The user demographic is diverse, spanning not only those in their 20s and 30s but also indiv May 13, 2026

The Evolving Landscape of Payment Methods: Competition Intensifies in Offline Transactions The competition in the mobile payment market is shifting from securing app users to establishing dominance in offline payment infrastructure. As the mobile app market reaches saturation, the battle for control over payment terminals and networks is intensifying.According to a report released in January by global market research firm Mordor Intelligence, near-field communication (NFC) payment methods accounted for 54.2% of South Korea's mobile payment market last year.As a result, the penetration May 13, 2026

KB Pay Expands Beyond Payments to Integrate Financial and Daily Services KB Kookmin Card's payment platform, KB Pay, is evolving from a payment app into a comprehensive platform that connects financial and daily services offered by KB Financial Group. Building on its payment capabilities, KB Kookmin Card is enhancing its asset management services. Through MyData, users can link accounts, cards, insurance, loans, and investment information scattered across various financial institutions, allowing them to manage their assets and spending. The service also provid May 13, 2026

Buhyung Group Revives Long-Stalled Development in Seongsu-dong Buhyung Group is set to advance the development of the long-stalled Buhyung Hotel site in Seongsu-dong, Seongdong-gu, Seoul, which has been inactive for 17 years. The company plans to create a high-end mixed-use complex that combines residential, hotel, and cultural facilities, expanding its business scope beyond just housing.According to the construction industry on May 13, Buhyung Group has recently begun design modifications for the 10,900-square-meter site in the Ttukseom district of Seongsu May 13, 2026

Jollibee Appoints Former Samsung Executive Myung-Joo Song as CEO of Shabu All Day A former Samsung Electronics executive has been appointed as the new CEO of Shabu All Day, a shabu-shabu brand. This marks the first executive appointment since the global restaurant company Jollibee Foods Group acquired All Day Fresh. All Day Fresh announced on May 13 that it has appointed Myung-Joo Song, a former vice president at Samsung Electronics, as its new CEO. Song joined Samsung Electronics as part of its first female graduate recruitment program and worked there for over May 13, 2026

KOSPI Rebounds Dramatically, Closing at Record High of 7,844 The KOSPI index rebounded dramatically, closing at a record high after initially dropping below 7,400. The index finished above 7,800, buoyed by buying from individual and institutional investors. On May 13, the Korea Exchange reported that the KOSPI closed at 7,844.01, up 200.86 points (2.63%) from the previous trading day. The index opened at 7,513.65, down 129.50 points (1.69%), and fell to the 7,400 level shortly after the market opened but quickly reversed its losses. Lee Kyung-mi May 13, 2026

National Security Chief: No Evidence to Confirm Drone Attack on Namwoo Wiesungrak, head of the National Security Office, stated on May 13 that there is no evidence to confirm that the aircraft involved in the incident with the Namwoo in the Strait of Hormuz was a drone. Speaking at a meeting with the Korean Newspaper and Broadcasting Editors Association in Seoul, Wiesungrak emphasized the need for further investigation, saying, "We do not have grounds to conclude that this is a drone. We need to consider the results of the investigation so far and conduct May 13, 2026