GS Retail Partners with KB Kookmin Bank to Build Fintech Solutions

[Asia Economy Reporter Lim Chun-han] GS Retail announced on the 11th that it has signed a business agreement with KB Kookmin Bank to expand digital transformation combining distribution and finance, including the introduction of fintech.

Through the business agreement, the two companies will jointly promote projects such as ▲expanding fintech business through the development of GS Pay ▲collaborating on joint promotions and marketing ▲creating big data synergy through data collaboration.

GS Pay is planned to be completed and launched in the second half of the year. GS Pay is expected to be used as a key fintech tool across all business areas of GS Retail, which operates integrated online and offline commerce businesses.

Big data partnerships combining customer shopping data and payment data will also be established. The two companies have agreed to pursue various collaborations using the collected big data, such as personalized marketing proposals, providing useful shopping information, and linking recommended products according to life cycles.

GS Retail plans to continue expanding digital transformation using new technologies such as AI and fintech across various business areas, while actively promoting partnership expansions that break down business boundaries.

A GS Retail official said, “We hope this strategic partnership with KB Kookmin Bank will greatly enhance the shopping convenience for customers using integrated GS Retail,” and added, “We will successfully launch GS Pay, which is currently under development by both companies, and create great synergy through cooperation in various fields.”

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