Fintech company Kona I said Tuesday it posted first-quarter consolidated revenue of 76.6 billion won ($766 billion) and operating profit of 24.6 billion won.
Revenue rose 31.3% from a year earlier and operating profit jumped 94%, the company said. The card industry typically sees weaker volumes early in the year because overseas financial institutions place orders in cycles, but Kona I reported double-digit growth in both revenue and profit.
Kona I said expanded exports of premium metal cards drove the results, citing steady growth in demand for high-end cards globally even as mobile payments spread.
Its payments platform business also grew, the company said, as the central government expanded budget support for local currency programs. Kona I said it maintained its operating base in major local governments including Gyeonggi Province and expanded the platform to new areas including Jincheon, Sejong, Chungju and Sangju, boosting transaction volume.
The company said its shift to an open platform also helped, as it broadened links with mobile payment services such as Naver Pay and Kakao Pay and diversified rewards.
Chief Executive Cho Jeong-il said both overseas exports and the domestic platform business posted meaningful year-on-year growth. He said the company expects growth momentum to continue for the full year, noting that global card volumes tend to be concentrated in the second half.
* This article has been translated by AI.
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