Home

The Korea Herald

Latest news

Most Popular

  1. 1

    NewJeans to terminate contract with Ador

    NewJeans to terminate contract with Ador
  2. 2

    NewJeans terminates contract with Ador, embarks on new journey

    NewJeans terminates contract with Ador, embarks on new journey
  3. 3

    Korean Air gets European nod to become Northeast Asia’s largest airline

    Korean Air gets European nod to become Northeast Asia’s largest airline
  4. 4

    Seoul snowfall now third heaviest on record

    Seoul snowfall now third heaviest on record
  5. 5

    Heavy snow of up to 40 cm blankets Seoul for 2nd day

    Heavy snow of up to 40 cm blankets Seoul for 2nd day
  1. 6

    Chaos unfolds as rare November snowstorm grips Korea for 2nd day

    Chaos unfolds as rare November snowstorm grips Korea for 2nd day
  2. 7

    BOK makes surprise 2nd rate cut to boost growth

    BOK makes surprise 2nd rate cut to boost growth
  3. 8

    ‘VCHA, Katseye and Dear Alice are not K-pop groups,’ industry experts say

    ‘VCHA, Katseye and Dear Alice are not K-pop groups,’ industry experts say
  4. 9

    11 injured in 53-car pileup on icy road in Wonju

    11 injured in 53-car pileup on icy road in Wonju
  5. 10

    [Graphic News] South Koreans favor Japan for repeat overseas trips

    [Graphic News] South Koreans favor Japan for repeat overseas trips
소아쌤

Naver to spin off mobile payment division

By Yonhap

Published : July 24, 2019 - 21:05

    • Link copied

Naver Corp., the operator of South Korea's dominant internet portal, said Wednesday it has decided to spin off its mobile payment division, Naver Pay.

The new company, tentatively named Naver Financial, will be launched in November with an aim of making inroads into the financial services sector, including loans, insurance and investment. 


Choi In-hyuk, chief operating officer of Naver, who is to lead Naver Financial. (Naver) Choi In-hyuk, chief operating officer of Naver, who is to lead Naver Financial. (Naver)


The decision came after the number of Naver Pay users recently exceeded 10 million.

Mirae Asset Daewoo Co., South Korea's top brokerage, plans to invest more than 500 billion won ($424 million) in the new venture.

In 2017, Mirae Asset Daewoo and Naver formed a strategic partnership to collaborate on development of financial products for digital devices.

(Yonhap)

More from Headlines