Shinhan Bank Partners with Inseong Data for 'Food Ordering O2O Platform'

Cooperation to Foster Food Order Brokerage Platforms for Innovative Finance and Mutual Growth
Creating New Financial Business Opportunities through Non-Financial Platforms

At the 'O2O Platform' business agreement ceremony held on the 29th at Shinhan Bank Headquarters in Jung-gu, Seoul, Jin Ok-dong, President of Shinhan Bank (left), and Hwang In-hyeok, CEO of Inseong Data, are posing for a commemorative photo.

[Asia Economy Reporter Park Sun-mi] Shinhan Bank announced on the 29th that it has signed a strategic partnership with Inseong Data for the operation of a delivery platform and mutual growth.

Inseong Data is the parent company of Logiol, which operates the food delivery agency service ‘Saenggakdaero’ and is a leader in the delivery market, having expanded its business to the food delivery market based on its delivery dispatch program.

Through this agreement, Shinhan Bank plans to secure the optimal partner responsible for the final consumer contact point of the food order brokerage platform scheduled to launch in December, providing various services to ordering customers.

As both companies cooperate to create a financial support system for small business owners and riders, which did not previously exist in the order delivery market, specialized services for order delivery such as the establishment of a franchise operation center and product development for riders will be provided.

A Shinhan Bank official said, “This business agreement with Inseong Data has been a great help in completing the food order brokerage platform that the bank is newly attempting,” adding, “We will take the lead in expanding the financial industry by providing innovative financial services based on non-financial platforms.”

This content was produced with the assistance of AI translation services.