Kakao Pay Establishes 1 Billion Won Mutual Growth Fund for Local Business Infrastructure

Shin Wongun Announces at Financial Services Commission and Korea Federation of Micro Enterprise Meeting on July 17

Kakao Pay will establish a 1 billion won mutual growth fund to promote QR code activation and support local business infrastructure.

Shin Wongun, CEO of Kakao Pay. Kakao Pay

Shin Wongun, CEO of Kakao Pay, announced this on July 17 at the 'Field Communication and Resolution Meeting on Financial Difficulties of Small Business Owners,' which was hosted by the Financial Services Commission and the Korea Federation of Micro Enterprise at the Sogongyeon Digital Education Center in Mapo-gu, Seoul.

CEO Shin explained, "To reduce the cost burden caused by table order platforms, we are working to expand QR order adoption in cooperation with VAN companies and POS providers. This approach allows businesses to save on tablet rental costs and benefit from general offline store fees rather than electronic payment gateway (PG) fees, thus lowering their financial burden."

He added that, to promote QR order usage and support local business infrastructure, Kakao Pay will establish a 1 billion won mutual growth fund and plans to provide offline sales channels for small business products through initiatives such as 'Oraeorae Hamkkage,' a program supporting market access.

Kakao Pay also plans to help small business owners send marketing messages to potential customers.