Hyundai Pay names Kim Jeong-ik as new CEO
Fintech company Hyundai Pay named Kim Jeong-ik its new CEO in April and plans on expanding services under the new leadership. Hyundai Pay? Hyundai Pay is a blockchain-based fintech company that provides IoT payment systems. The company’s chairman is Chung Dae-sun, grandson of Hyundai Group founder Chung Ju-yung. Hyundai Pay also manages Hdac, which is commonly known as Hyundai coin. The developer of Hdac is Hyundai BS&C, an affiliate of Hyundai Group. Kim Jeong-ik? Hyundai Pay’s new CEO is a veteran banker who worked in the financial industry for more than 20 years. He served as the department head at the conglomerate sales and investment finance department at Shinhan Bank as well as the general manager of corporate finance and investment banking at Shinhan Investment Corp. Kim specializes in conglomerate finance, M&A investment and corporate IPOs. “Hyundai Pay is aiming for blockchain-based technology convergence, whose characteristics are security, credibility and transparency,” Kim said. “We plan on leading innovation in the financial industry by providing a customer-friendly, secured, convenient and practical financial service.” Future plans? Hyundai Pay with Kim as its new CEO plans to expand its blockchain-based fintech businesses, including the advanced payment service currently under development. The service will issue advanced payment points. The points can then be used in daily life, including for wiring money or making payments through mobile devices. Additionally, a real estate P2P service will be provided, where real assets, such property, will be selected to provide steady profit. Hyundai Pay plans to create a high-level fintech platform for all, including a wallet service that will be customized for the individual, with the UX designed to maximize convenience of the users. Parker’s note: News on Hyundai Pay, which has been staying low key, is slowly emerging. Considering that the recent reemergence started around April, the naming of the new CEO has had some effect. As actions speak louder than words, it is time for Hyundai Pay to show something to investors.