NHN KCP Reports 281.1 Billion Won in Q1 Revenue, Up 4.8% Year-on-Year

Operating Profit Down 2.3%

NHN KCP announced on the 13th that its consolidated revenue for the first quarter reached 281.1 billion won, a 4.8% increase compared to the same period last year.

Operating profit for the same period was 10.9 billion won, marking a 2.3% decrease year-on-year.

The total transaction volume contributing to sales was 11.8 trillion won.

A company representative stated, "Transaction volume showed a solid trend due to balanced growth among major domestic and international merchants." However, the representative also explained, "There was a partial decrease in transaction volume due to a decline in vehicle deliveries at imported car merchants in the first quarter, as well as the suspension of merchant transactions following the corporate rehabilitation procedures of TMON and Wemakeprice last year."

NHN KCP is the leading electronic payment service provider in Korea. The company plans to establish an advanced merchant support system by strengthening AI-based data analysis services and enhancing application programming interface (API) integration.

The company representative added, "In the first quarter, we focused on advancing services for merchants and investing in new technologies to secure future growth drivers," and continued, "We will continue to enhance the competitiveness of our payment platform and achieve sustainable growth through collaboration with various industries."