Kona I, Q2 Net Profit Rises 42.5% to 22.2 Billion Won

Global fintech company Kona I reported a net profit of 22.2 billion won for the second quarter of this year, marking a 42.5% increase compared to the same period last year, the company announced on July 28.

During the same period, revenue reached 84.1 billion won, and operating profit was 21.4 billion won, reflecting increases of 25.1% and 24.3%, respectively.

For the first half of the year, cumulative revenue totaled 161 billion won, with operating profit at 46.2 billion won and net profit at 45.6 billion won, representing increases of 28.3%, 54.5%, and 85.5% compared to the same period last year.

The growth of the payment platform business has driven the improvement in performance. Kona I's payment support for local governments affected by high oil prices was 34%, double the national average of 17%. Following the distribution of support funds, the average monthly payment amount in local currency also nearly doubled.

The overseas metal card business continued to grow, securing new clients in the United States. Revenue from overseas metal cards increased by 9.7% compared to the same period last year. Kona I expects further growth in the second half of the year, which typically sees concentrated volume.

The new budget mobile service 'MONA' has surpassed 130,000 subscribers. The average churn rate for the first half of the year improved to 3.5%, down from 4.3% for the entire previous year, and the supply of USIM cards increased by approximately 4.5 times compared to the previous quarter, contributing to performance.

A Kona I representative stated, "This year, we paid the performance bonuses for the first half in the second quarter. Without this expense, the growth in profit would have been even greater."