Hecto Financial Announces Provisional Q2 Results... Achieves Highest-Ever First-Half Performance

Fintech company Hecto Financial continued its strong performance in the second quarter, setting a new record for its highest-ever first-half results.

On August 7, Hecto Financial announced its provisional consolidated results for the second quarter of this year, reporting revenue of KRW 44.5 billion and operating profit of KRW 3.8 billion. Compared to the same period last year, revenue increased by 17% and operating profit grew by 7.4%.

Accumulated revenue for the first half of the year reached KRW 90.5 billion, up 20.5% year-on-year, marking the highest first-half performance in the company's history. While revenue from the "mobile payment" segment has continued to grow steadily, driving overall business growth, the nature of this segment requires stable provisioning for bad debt reserves. As a result, operating profit for the first half was KRW 7.5 billion, a slight decrease of 1.5% compared to the same period last year.

Hecto Financial's strong results were driven by stable growth in its payment services segment, including the acquisition of new merchants, as well as the expansion of new overseas services. The company continues to expand its overseas business, such as by providing foreign currency settlement services for payment transactions to global e-commerce companies.

In addition, Hecto Financial is preparing to enter the stablecoin business, which is rapidly emerging as a new payment method in the global market, and is working to build a stablecoin distribution infrastructure.

Choi Jongwon, CEO of Hecto Financial, stated, "In the first half of the year, we achieved record results through the expansion of new merchants and overseas business performance. In the second half, we plan to accelerate global business expansion, focusing on key overseas markets including Japan. By adding stablecoins as a payment method, we will further enhance the efficiency of global payment and settlement."

Meanwhile, Hecto Financial is the only fintech company in Korea that possesses the source technology for all payment methods. It provides a wide range of customized payment services to client companies, including simple cash payments, credit cards, and mobile payments. Recently, the company has expanded its business areas to include kiosks and global foreign currency settlement services, and is preparing to enter the stablecoin market based on its experience in payment, prepaid recharge, and local currency sectors.

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