KB Kookmin Card is set to lead the card industry by partnering with the Bank of Korea to innovate digital financial infrastructure.
On November 9, KB Kookmin Card announced that it has signed a memorandum of understanding (MOU) with the Bank of Korea to advance digital financial infrastructure.
The agreement aims to respond to advancements in digital technology and changes in the payment settlement environment, seeking to develop a financial infrastructure that can reliably support new digital payment services.
The two institutions plan to discuss ways to create a convenient digital financial environment for both consumers and merchants by leveraging KB Kookmin Card's payment settlement infrastructure and operational experience.
Additionally, they will explore methods to provide digital financial services that comply with financial regulations and protect consumer rights. They will also promote information exchange and mutual cooperation for the development of digital financial services.
The specific scope of work and implementation methods will be discussed later, taking into account relevant laws and the internal procedures of each institution.
A representative from KB Kookmin Card stated, "Through this agreement, we will seek various cooperation methods to respond to changes in the digital financial environment with the Bank of Korea. We will continue to strive to create a safe and convenient payment settlement environment and contribute to the development of future financial infrastructure."
* This article has been translated by AI.
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