Promoting business growth through government initiatives
Seoul, South Korea, May 20, 2024 /PRNewswire/ — The Korean government is leading the Value Up Program, a strategic initiative aimed at increasing the value of Korean companies and fostering a culture of shareholder appreciation. This long-term policy aims to enable companies listed on the KOSPI and KOSDAQ stock exchanges to autonomously increase their corporate value. The program encourages companies to develop and implement plans to improve their value, while the government identifies companies that contribute to this objective and offers tax incentives, recognition and other benefits. We will reward you with
Hecto Financial: Outstanding beneficiary of the Value Up Program
One notable beneficiary of this initiative is Hecto Financial, a TechFin company specializing in electronic payments and payment gateways and listed on the Kosdaq market. In collaboration with its parent company Hecto Innovation, a mobile authentication and electronic payments company, Hecto Financial has announced a comprehensive shareholder return plan that includes share buybacks and a cash dividend equal to 25% of net profits.
Hecto Financial's impressive growth and market power
If the annual payment amount exceeds 200 trillion won (about $168 billion), Hecto Financial has emerged as a leading player in the Korean market for electronic payments and payment gateways. The company's 2024 first quarter financial results showed significant growth, with operating income increasing by 41.3% compared to the same period last year, maintaining a consistent annual growth rate of over 10%.
A2A Advantage: Strengthening Hecto Financial's Position in the Financial Ecosystem
Hecto Financial further strengthens its position with its dominance in account-to-account (A2A) trading. Korean financial ecosystem. A2A trading enables seamless movement of funds between different financial institution accounts. This is an essential service in a market where 98.7% of individuals over the age of 15 have a financial account.
Pioneering innovation: Hecto Financial's home in payment solutions
was established in October 2000 As SettleBank, Hecto Financial pioneered the creation of virtual accounts and online banking systems. With a strong cooperative network with banks across the country, South KoreaHecht Financial maintains its stronghold in Japan, with a market share of approximately 90% in e-commerce and over 60% in all fields.
Unparalleled origin rights: Hecto Financial's leadership position in the payments space
Beyond A2A transactions, Hecto Financial differentiates itself through synergies with other payment methods and the ability to provide customized services. The company holds origin rights for the world's leading payment methods. South Korea, a hallmark of our unparalleled position in the field of payments, including card payments and direct carrier billing (DCB). Origin rights refer to the right to provide payment services directly to customers through cards, accounts, carrier payments, etc., and are granted only to companies that are recognized as trusted partners. Hecto Financial is the only company trusted by all banks, card issuers and carriers with such comprehensive origin rights.
Expecting continued growth: Hecto Financial's outlook amid government initiatives
As the South Korean government's Value Up Program gains momentum, companies like Hecht Financial are poised for further growth and increased value. Investors can expect the combination of government efforts and industry strengths to strengthen the ability of Hecht Financial and companies like it to maximize value. Korean A vibrant financial technology sector. Hecto Financial's fundamental strengths and Korean The government's value-enhancing policies are expected to further maximize value for investors this year.
Source Hecto Financial
