SettleBank Acquires Stake in Data Relay Solution Company CodeF

[Asia Economy Reporter Jang Hyowon] SettleBank (CEO Choi Jongwon) announced on the 3rd that it acquired 74% (821,400 shares) of the data brokerage solution company CodeF (CEOs Yeo Yongju and Seo Seongkwon) for 11.1 billion KRW.

CodeF is an intermediary institution that distributes various domestic and international data in finance, asset management, healthcare, and other sectors. In December last year, it obtained the official license for Personal Credit Information Management Business (MyData) from the Financial Services Commission.

SettleBank stated, "SettleBank is newly promoting its data business this year, and through this equity acquisition, we expect to enter the related market early," adding, "Along with existing businesses, we will leap forward as a tech-fin company suitable for the upcoming Web 3.0 era through new data businesses."