The stock price of Webcash, a B2B fintech company, has surged for two consecutive days. The upward trend continued after Lee Jaemyung, the presidential candidate of the Democratic Party of Korea, mentioned local currency. The Gyeonggi Research Institute's proposal to merge Onnuri gift certificates, which are used in traditional markets, with local currency to support traditional markets has also contributed to the rise. Additionally, expectations for the fostering of artificial intelligence (AI) appear to be reflected, as candidate Lee held a meeting with leaders of the five major economic organizations, including Chey Tae-won, Chairman of the Korea Chamber of Commerce and Industry.
As of 11:35 a.m. on May 8, Webcash was trading at 18,140 won, up 20.13% from the previous day.
On April 24, Webcash held its first regular investor relations (IR) session of the year and presented its vision to evolve beyond a simple fintech company into an artificial intelligence (AI) agent company.
Webcash announced plans to gradually apply generative AI to its entire lineup of corporate cash management solutions (CMS), aiming to provide customized cash management services for each type of business. Generative AI will be integrated into Webcash’s main solutions, such as AI Kyungri Nara, Inhouse Bank, and Branch. The company plans to introduce specialized AI agents for various industries, ranging from small and medium-sized enterprises to large corporations, public institutions, and government ministries, to enable cash flow forecasting and operational automation.
Webcash also introduced 'AICFO 2.0,' the first financial AI agent in Korea. AICFO 2.0 is an AI-based cash management service that analyzes the financial status and forecasts future cash flow on behalf of startup and SME representatives. Webcash emphasized the significance of this evolution from a simple CMS to an AI agent capable of supporting practical decision-making and responses.
Kang Wonjoo, CEO of Webcash, stated, "Webcash is not just enhancing the functionality of AI technology, but is implementing services that can solve real problems faced by customers," adding, "We will continue to lead the domestic B2B fintech market through AI-based financial automation."
On the previous day, candidate Lee visited Jinan in North Jeolla Province and said, "If we increase discretionary budgets to issue local currency in large quantities and provide basic income to rural and fishing communities, the rural population will likely increase." He continued, "If both the provincial and central governments support this initiative and provide about 150,000 to 200,000 won per person per month in the form of local currency, businesses like Jeonju Sikdang, which sells galchijorim, will thrive." He emphasized, "With a population of 20,000 in Jinan County, 650 billion won would mean about 2.5 million won per person for rural basic income."
On the morning of May 8, candidate Lee is scheduled to meet with the heads of the five major economic organizations at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul. The economic organizations delivered a proposal booklet titled "The 21st Presidential Election - Proposals from the People and Businesses for Future Growth," which was jointly prepared by gathering opinions from the public and member companies of each organization.
The proposal booklet includes AI development, regulatory innovation, and energy policy as driving forces for growth. It also contains 14 tasks across four major areas, including the transplantation of new industries, expansion of economic territory, creation of a basic foundation, and boosting vitality.
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