YapX "Joint Promotion of SoSoBank Establishment Committee and 4th Internet Bank Project"

[Asia Economy Reporter Hyunseok Yoo] YapX (Egzax), a company listed on KOSDAQ, announced on the 27th that it has signed a joint cooperation memorandum of understanding (MOU) with the Sososmartbank Establishment Promotion Committee (hereinafter Sosobank Establishment Committee) regarding the establishment of a financial environment and Internet of Things (IoT) infrastructure centered on small business owners, including the 4th internet-only bank project.

Through this agreement, YapX will join hands with the Sosobank Establishment Committee, which is centered on small enterprises and small business owners, to form a united front in all-around business areas where mutual cooperation is possible, including ▲location-based IoT infrastructure construction projects ▲preparation for licensing to enter the internet-only bank business ▲joint investment attraction.

YapX will take the lead in the ICT technology sector applied within the scope of major joint projects such as the IoT infrastructure business and internet-only banks. The Sosobank Establishment Committee will play a central role in fund management, including investment attraction. Furthermore, YapX plans to actively cooperate in building IoT infrastructure for small business owners.

At the MOU signing ceremony, YapX CEO Choi Simyeong and Sosobank CEO Preparation Committee Chairman Park Junduk attended as representatives of their respective organizations.

Choi Simyeong, CEO of YapX, said, "Starting from this MOU, the nationwide small business IoT infrastructure construction project will become more competitive. We expect that the Sosobank project, which will provide all-around support through cooperation with strategic partners such as Yap Company, will also be a good opportunity to demonstrate ICT technology competitiveness."

The company expects that through this agreement, pilot projects such as ▲indoor navigation incorporating augmented reality (AR) technology around Macau airport and casinos ▲metaverse platform development, which are being promoted diversely recently, as well as joint projects to build location-based IoT non-face-to-face order infrastructure for small business owners with Yap Company, mainly in Seoul metropolitan government areas, will be further activated.

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