Intromedic Begins Development of Cyworld Payment System 'CyPay'... Signs Agreement with CyworldZ

[Asia Economy Reporter Hyunseok Yoo] Intromedic announced on the 6th that it has signed a Memorandum of Understanding (MOU) with Cyworld operator CyworldZ for the development and service of ‘CyPay’.

As a major investor in CyworldZ, Intromedic is responsible for various development and operational support to resume Cyworld services. Under this agreement, Intromedic will not only develop CyPay, the payment system within Cyworld, but also participate as the operator of the CyPay service. CyPay is a payment service exclusive to the Cyworld platform.

Cyworld, which plans to start its beta service in August, recently began selecting a payment gateway (PG) company. If CyworldZ selects a PG company by mid-August, Intromedic will convert this agreement into a formal contract and commence full-scale development.

An Intromedic official stated, “We are developing ‘CyPay,’ a payment method usable within Cyworld, and in the future, like other simple payment services, it will be available not only virtually but also offline,” adding, “We are working hard to prepare for a smooth beta service.”

Cyworld is a representative domestic SNS (social networking service) that sparked the ‘Minihompy boom’ in the early 2000s. After acquiring the operating rights of Cyworld, CyworldZ carried out photo and video recovery, content quality restoration, server and cloud restructuring, implementation of personal information protection management systems, and acorn refund processes. Cyworld members can check their restored photos, videos, comments, BGM, and acorn quantities within their Minihompy starting from 6 p.m. on August 2.

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