Business data platform company Koocon is expanding global partnerships across Asia by joining 'Asia FinTech Alliance (AFA)', Asia's largest fintech council, as an Affiliate Member. Koocon joined AFA through the Korea FinTech Industry Association, thereby securing a foundation for cooperation, collaboration with fintech networks in 15 Asian countries, and is expected to accelerate global payment, settlement business, project, enterprise expansion, extension.
Section 1
Koocon (CEO Kim Jong-hyun, KOSDAQ 294570), a business data platform company, announced on the 21st that it is expanding global partnerships across Asia by joining 'Asia FinTech Alliance (hereinafter AFA)', Asia's largest fintech council, as an Affiliate Member.
AFA is a council participated in by fintech associations from 15 major Asian countries, including Korea, Singapore, Japan, Taiwan, Indonesia, Malaysia, Thailand, and India. It aims to promote fintech innovation, reform, expand finance inclusion, and enhance connectivity among Asian fintech ecosystems, and is regarded as a representative regional alliance organization that supports the sharing of regulatory trends in each country and networking among industry leaders.
AFA operates with a structure where individual companies do not directly membership, joining, but acquire Affiliate Member status through national associations. Koocon joined AFA through the Korea FinTech Industry Association, thereby securing a foundation for cooperation, collaboration with fintech networks in 15 Asian countries.
This membership, joining is expected to create substantial synergy, aligning with Koocon's ongoing strategy to expand its global pay business, project, enterprise. Koocon is continuously enhancing its global payment, settlement infrastructure capabilities by integrating with major global payment companies such as WeChat Pay, UnionPay, and QRIS, Indonesia's standard QR payment, settlement system.
Going forward, Koocon aims to partner with over 50 global payment companies in 20 countries worldwide, including major Asian regions. In particular, it plans to actively discover cooperation, collaboration opportunities with promising Asian companies based on the AFA network and further solidify its standing, position, foothold within the global payment, settlement ecosystem.
Furthermore, Koocon plans to establish a strategic base in the Asian market through the establishment, founding of a Singapore subsidiary within the year, and gradually expand its global business from there. Utilizing the network secured through AFA, it intends to build a payment, settlement infrastructure cooperation, collaboration model optimized for local environments and strengthen its role as a key infrastructure partner supporting the entry of foreign payment companies into the Korean market.
Kim Jong-hyun, CEO of Koocon, stated, “Through this AFA membership, joining, we have further strengthened cooperation, collaboration relationships with promising fintech companies across Asia.” He added, “We will actively leverage the various opportunities gained through the alliance to accelerate our global pay business, project, enterprise.” He further commented, “By combining the establishment of our Singapore base with the AFA network, we aim to contribute to enhancing the connectivity of the Asian fintech market.”
Section 2
Koocon's membership, joining in the Asia FinTech Alliance and the establishment, founding of its Singapore subsidiary are interpreted as strategic steps to solidify its standing, position, foothold in the global fintech market, extending beyond Asia. It remains to be seen whether Koocon will grow into a key player in the global payment, settlement ecosystem based on AFA's strong network.
It remains to be seen whether Koocon will grow into a key player in the global payment, settlement ecosystem based on AFA's strong network.
