NHN KCP Posts 1.2349 Trillion Won in Revenue Last Year, Up 12% from 2023

NHN KCP announced on February 12 that, on a consolidated basis for last year, it recorded 1.2349 trillion won in revenue and 54.7 billion won in operating profit.

This represents increases of 12% and 25%, respectively, compared with the previous year. The company stated that this proves it has built a solid profit structure that goes beyond simple expansion in scale.

According to the company, its annual transaction volume, a metric for gauging the external growth of a payment infrastructure company, surpassed 51.5 trillion won, ushering in a new era of 50 trillion won in annual transaction volume. In the online payment segment, the company sharply expanded its imported car portfolio last year, while strong performance by large and global merchants, including global OTT (over-the-top) services and app marketplaces, combined with the effect of acquiring new merchants, drove a steep increase in payment volume. As a result, annual revenue in the online business segment came to 1.1101 trillion won.

In the offline payment segment, boosted by strong sales performance from major merchants, including its subsidiary Korea Credit Card KOCES, the company posted 109.7 billion won in revenue last year, up 96% from the previous year.

To respond to changes in the next-generation payment environment, NHN KCP is operating a joint task force (TF) with NHN Payco to pursue a stablecoin business and is reviewing the creation of new business models. In parallel, it is preparing for future expansion of its payment services by scaling up its prepaid business and building up references.

Chief Executive Officer Park Junseok of NHN KCP said, "Last year, we not only achieved growth in scale but also succeeded in strengthening the substance of our earnings, clearly proving the company's fundamental capabilities." He added, "We will focus the capabilities of the entire company on expanding a global payment infrastructure based on artificial intelligence (AI) agents, leveraging our solid partnerships with global big tech companies and our payment competitiveness," and continued, "We will continue to enhance our corporate value as a 'first mover' that leads paradigm shifts in the industry and lives up to the market's trust."

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