TOKYO, Dec 14, 2023 – (JCN Newswire) – JCB Co., Ltd, Japan’s leading international payment brand, has agreed to enable Korean code payment service*1 provided by GLN at Smart Code merchants in Japan by the end of FY2023. This will enable users of Korean code payment services such as GLN, KEB Hana Bank and KB Kookmin Bank to shop at Smart Code merchants in Japan. This is the second case of an international code payment service provider adopting Smart Code, following KASIKORNBANK in Thailand.
South Korea has the largest number of travelers to Japan, with 5,525,900*2 South Korean visitors travelling to Japan between January and October 2023. There is a growing demand in Japan for access to code payment services available in Asia in order to capture inbound tourism spending, but as the specifications for code payment services vary among payment service providers, there has been a system and operational burden for merchants to adopt code payments.
In response to those, JCB is collaborating with GLN to enable the acceptance of international code payments at Smart Code merchants in Japan by making GLN’s payment network Smart Code compliant. Merchants adopting Smart Code will be able to accept international code payments without the need for additional contracts or system and operational support.
*1 Payment service providers using GLN’s global payment network (including those planned). To be expanded in due course.
Code payment service provider
Payment service name
Country
GLN International Inc
GLN
South Korea
Toss
KEB Hana Bank
Hana1Q, Hana Money
KB Kookmin Bank
KB Star Banking
*2 Number of Foreign Visitors (October 2023 estimate). Japan National Tourism Organization (JNTO)
About Smart Code
Smart Code is a payment scheme designed to reduce the workload and costs of code payment service providers and merchants, and to provide consumers with secure and reliable payments. JCB provides the data center for processing payment information, linking the payment providers and merchants and centralizing the contracts between them. For more information on Smart Code, click here.
About JCB
JCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 43 million merchants around the world. JCB Cards are now issued mainly in Asian countries and territories, with more than 154 million cardmembers. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase its merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/
The Asia Video Industry Association (AVIA) welcomed over 200 delegates from across the region for its first ever Korean focused conference and its first in market event since 2019, with Korea in View, which took place on 30 August at the Westin Josun, Seoul.
To set the scene, AVIA CEO Louis Boswell presented key highlights from AVIA’s Korea in View 2022 Report. Ranking 10th among the world’s largest economies and 4th in Asia, South Korea had risen from one of the poorest countries in the world to a developed, high-income country in just one generation. The pay TV market continued to show growth of 2.7% per year, now dominated by IPTV, while streaming services were accelerating at breakneck speed, seeing paid subscribers increasing from 20.4% of the population in 2020 to 34.8% in 2021.
In his opening speech, keynote speaker, Vice Chairman Ahn Hyoung-hwan of the Korea Communications Commission (KCC) shared that while OTT growth was an opportunity for the content industry to grow, it was also resulting in a sense of crisis for existing legacy media. Hence the KCC was preparing the Audio-Visual Media Service Act and was pushing for innovative deregulation of the existing regulations on advertising and programming.
The day spanned multiple conversations about the strength of Korean content and how that was fuelling the success of both Korean streaming platforms as well as international, with Marianne Lee, Chief of Content Acquisition and Development, Viu and Junbeom Jeon, Chief Leader, Wavve, both agreeing that this investment in local content was the key to survival. Such demand, however, was also clearly fuelling a rapid escalation in content costs and while Hyun Park, Senior Vice President, Global Division of Studio Dragon commented that from a Hollywood perspective Korea still presented great value for money, there needed to be a cap on costs before they got out of hand. He also noted, “We are definitely not at the peak of production, we are only at the beginning.”
The roles of international and Korean streaming platforms were also examined with Esther Ahn, Vice President, Streaming, Korea, Paramount, explaining the recent introduction of Paramount+ to the market in partnership with CJ-backed TVING. The partnership spanned making Paramount content available within the TVING service in Korea as well as co-producing Korean content with a view to Korean and international audiences. TVING CEO Jay Yang also talked about the desire to be able to take the best Korean content overseas and deliver it through a Korean streaming platform, although he did not believe Korean content should only be on Korean platforms. But as in the same way Korean content was on international platforms, the Paramount+ deal also saw international content on a Korean platform. Ultimately streaming platforms wanted the best content no matter its origin.
The advertising market was also seeing the traditional markets of TV, Print and Radio declining but there has been significant growth in digital. This was an opportunity that both Bong-Su Kim, Addressable TV Ad Team Leader, SK Broadband and Vijay Kunduri, Regional Vice President, OTT/CTV, APAC, PubMatic, felt needed to be exploited with the growth of ad supported VOD or streaming services, with both being confident that this space would evolve quickly in the next two years in Korea.
Rounding up the day’s sentiments, Louis Boswell highlighted the importance of the Korean market not just because of the impressive growth it had seen for video content, but because of the influence Korean content has had across the region, and also the early stages of Korean streaming platforms looking to enter other Asian markets. “It is not possible to look at the Asian video industry without looking at Korea,” added Boswell.
Korea in View is generously sponsored by Brightcove, BytePlus, Conviva, Google Cloud, Irdeto, NAGRA, Paramount and TV5Monde.
About the Asia Video Industry Association:
The Asia Video Industry Association (AVIA) is the trade association for the video industry and satellite ecosystem in Asia Pacific. It serves to make the video industry stronger and healthier through promoting the common interests of its members. The AVIA is the interlocutor for these industries with governments across the region, leads the fight against video piracy through its Coalition Against Piracy (CAP) and provides insight into the video industry through reports and conferences aimed to support a vibrant video industry.
For media enquiries and additional background, contact:
Charmaine Kwan Head of Marketing and Communications Email: charmaine@avia.org Website: www.avia.org LinkedIn: www.linkedin.com/company/asiavideoia Twitter: @AsiaVideoIA
Hanasan is an environment-friendly enterprise that uses natural wood for all pet furniture products. Its main brand is LUXYPET, which pursues the image of premium companion animal furniture.
Established as a wooden pet furniture company in 2011, it produces a range of products including Wooden Pet Dish, Wooden Pet Bed, Wooden Pet Step and Wooden Cat Tower.
Their furniture is waterproof and eco-friendly, with the humidity controlling functionality unique to solid pine wood. Each piece can be cleaned with water and provides a comfortable environment for pets.
The Cat Tower is built using eco-friendly birch and pine, and the height of steps can be adjusted according to the growth of cats. Hardwood Cat Pole, made using eco-friendly pine, ensures a safe eco-friendly environment for pets.
LUXYPET is 100% made in Korea through direct production, with special, custom-made pet furniture is also available.
The Korean pet wood furniture manufacturer, foresees itself taking a significant share of the global market.
Doolim, established in 2016, grew 200% in sales within its firts 3 years by designing various colors and materials, and producing high functional fabrics in Korea. The company produces multifunctional comfort textile products that offer far-infrared radiation protection, antibacterial and deodorization functions, UV blocking and body temperature balancing properties.
In addition, Doolims cool comfort material manages the bodys moisture and temperature to keep the best comfort and wearability, even after washing. Currently, there are about 10,000 types of functional fabrics with various colors and materials produced by Doolim in Korea.
Specialized products in outdoor clothing brands are produced through post processing with enormous technologies. The company produces ventilating waterproof fabrics, recyclable fabrics and flexible functional fabrics without spandex.
With the boom of well-being and outdoor clothing, the demand for mass produced functional fabric t-shirts has increased.
The company said that it will focus on R&D to continue manufacturing functional fabrics in Korea and abroad.
Probubbly by PROPRE is a korean soap brand offering product made from highly concentrated natural ingredients with various functions, such as skin aging prevention, spot and blemish removal, skin firming, wrinkle and whitening enhancement. The company holds various certifications, including US FDA mineral ingredient certification.
The biggest advantages of PROPREs natural neutral soap manufacturing process are its purchasing of various raw materials necessary for soap production, it has red ginseng soap, eggplant soap, peanut soap, mushroom soap, honey soap, and bamboo salt soap, at low cost, and its combining of various natural herbal ingredients, such as red ginseng, eggplant, and castanea crenata shell, to eliminate the need for chemical components. PROPRE korean natural neutral soap products are differentiated by technology that does not degrade even when exposed to water for a long time.
The company offers solid natural neutral soaps and scooping-type acidic soaps in Korea, as well as squeeze-type for personal use.
In 2020, PROPRE was approved by the Indonesian government and successfully entered into an export sales contract with a local company.
CEO Lee Choong-soo said PROPREs goal is to lead the trend of change in the global market and become a leader in the future technology of korean eco-friendly neutral soap.
PROPRE is committed to being a leader in eco-friendly neutral soap technology not only in Korea, but across the world.
