Foreigner-Focused Financial Platform 'Hanpass' to List on KOSDAQ

A Financial Platform Specialized in Overseas Remittance for Foreigners: Hanpass
Remittance Infrastructure Covering 200 Countries, Widely Used by Foreign Residents in Korea
General Subscription on March 16-17, Listing Scheduled for March 25

Hanpass, a comprehensive lifestyle and financial platform for foreigners, is preparing for a KOSDAQ listing. On the 12th, Hanpass held a press conference in Yeouido, Seoul, revealing the company's competitiveness and future growth strategies. Ji-hyun Shin, Chief Business Officer of Hanpass, is introducing the company at the conference.

Hanpass, a comprehensive lifestyle and financial platform for foreigners, is preparing for a KOSDAQ listing. On March 12, Hanpass held a press conference in Yeouido, Seoul, where the company revealed its competitiveness and future growth strategies.

Founded in 2017, Hanpass is a financial platform company for foreigners specializing in overseas remittance services, combining wallet, payment, and lifestyle services. The business was launched to address the challenges foreigners face when accessing domestic financial services, such as language barriers, complex procedures, and limited financial accessibility. To resolve inconveniences not only in financial services but also in other aspects of daily life, Hanpass has recently connected various lifestyle services—such as transportation, commerce, and job search—within the platform, thereby building an ecosystem that supports the overall daily life of foreign customers.

Currently, Hanpass has established a remittance infrastructure with more than 50 global Money Transfer Operator (MTO) networks and coverage in over 200 countries. Based on its global settlement network and multilingual customer support system, the company provides financial services for foreigners. Notably, Hanpass offers customer service (CS) in more than 20 languages, 365 days a year, and its mobile application supports over 18 languages, creating a user environment focused on foreign users. This global network and multilingual service capability are considered significant competitive advantages in the foreigner financial services market.

In particular, the company cites the growing importance of financial infrastructure for foreigners as the number of resident foreigners and the scale of global movement increase. The number of foreigners residing in Korea is about 2.78 million, while the annual number of visitors to Korea is approximately 20 million and continues to grow. Recently, the government has been promoting policies targeting the achievement of 30 million inbound tourists per year as part of its strategy to foster the tourism industry as a national growth engine. In this policy environment and amid the recovery of global tourism demand, it is expected that the market for foreigners visiting Korea will also continue to expand over the medium and long term.

Kim Kyunghoon, CEO of Hanpass, stated, "The growing number of resident foreigners and the expansion of global movement are increasing the importance of financial infrastructure for foreigners. Hanpass aims to respond to these changes by growing into a platform company that connects financial and lifestyle services, continuously advancing our services, and enhancing our long-term corporate value by expanding into the global market."

With this listing, Hanpass plans to further strengthen its competitiveness as a financial and lifestyle platform for foreigners and accelerate its global business expansion. Hanpass will offer a total of 1.1 million shares in this public offering. The desired price range for the offering is between 17,000 won and 19,000 won per share, and the total expected fundraising is approximately 18.7 billion to 20.9 billion won.

The funds raised from the public offering will be used for capital increases in its Japanese and Australian subsidiaries, strategic investments and acquisitions for global business expansion, facility investments to enhance information security and service infrastructure, and operating capital for platform business expansion and marketing.

The demand forecast began on March 6 and is ongoing as of the publication date, while the general subscription will be held over two days, from March 16 to 17. The listing is scheduled for March 25, with Korea Investment & Securities serving as the lead underwriter and Daishin Securities as the co-underwriter.

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