Cafe24 Signs Business Agreement with IBK Industrial Bank... "Supporting Online Entrepreneurs with Finance and Education"

Joint Operation of Step-by-Step Educational Curriculum

Lee Jae-seok, CEO of Cafe24 (left), and Lim Moon-taek, Head of Corporate Customer Group at IBK Industrial Bank, are taking a commemorative photo after signing a business agreement. (Photo by Cafe24)

[Asia Economy Reporter Lim Chun-han] Global e-commerce platform Cafe24 announced on the 23rd that it has signed a Memorandum of Understanding (MOU) with IBK Industrial Bank of Korea to support financial and educational services for online business operators.

Through this agreement, the two parties will collaborate in areas including ▲development of financial services utilizing non-financial data for early-stage entrepreneurs and new filers (people with limited financial history) ▲financial benefits and direct and indirect investment support for small and medium-sized merchants based on the Cafe24 platform ▲support for overseas sales payment settlement and export performance registration automation based on IBK Industrial Bank's export payment management service Paygos ▲trade finance support for businesses entering the global market.

The two companies plan to jointly operate educational programs covering the entire online business process, from building direct-to-consumer (D2C) shopping malls to marketing strategies and global market entry, to promote online entrepreneurship. In particular, they intend to provide educational content related to finance, taxation, and labor, as well as customized comprehensive consulting services to help online business operators more easily resolve difficulties with experts.

An IBK Industrial Bank official stated, “The two companies will actively cooperate to help small business owners secure growth momentum through digital transformation,” adding, “We will continue to develop various win-win models to support the solid growth of small business owners who underpin the national economy.”

Lee Jae-seok, CEO of Cafe24, said, “We expect to create an environment where online small and medium-sized merchants can succeed more easily by lowering the entry barriers to entrepreneurship in the financial sector together with IBK Industrial Bank.” He added, “We will continue to introduce financial services needed by online business operators through cooperation with various partners.”

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