[Asia Economy Reporter Hyungsoo Park] Fintech company Aton is showing strong performance. It appears that expectations of benefiting from the government's ongoing 'Korean New Deal' are influencing the stock price.
At 1:54 PM on the 26th, Aton was trading at 36,800 won, up 12.54% from the previous day.
With the passage of the 'Electronic Signature Act Amendment' in the National Assembly plenary session, related industries expect private authentication services to become more active. Aton partnered with the three major telecom companies SK Telecom, KT, and LG Uplus to create 'PASS'. The number of subscribers is expected to exceed 30 million by next month. This surpasses the scale of 'KakaoPay Authentication,' which was created based on the blockchain platform Klaytn developed and operated by Kakao's blockchain subsidiary Ground X, with over 10 million subscribers.
Furthermore, on the 7th, Aton anticipated that the Korean New Deal plan announced by the government would create a favorable environment for conducting its business. The government selected three major projects (digital infrastructure, non-face-to-face industry, and SOC digitalization) to respond to economic and social structural changes caused by the novel coronavirus infection (COVID-19). As part of the non-face-to-face industry promotion project, it mentioned strengthening the cyber safety net to promote the use of non-face-to-face services. Aton expects to benefit from the government's promotion of the non-face-to-face industry.
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