NCsoft formed a strategic alliance with Korea’s No. 2 electronic payment service company KG Inicis by making 45-billion-won investment. Under the terms of the strategic alliance, NCsoft is set to acquire 45-billion-won convertible bonds from KG Inicis.
The convertible bonds will have four-year maturity and NCsoft can demand a put option in every six months after the lapse of two years. The CBs can be converted into stocks in one year after being issued.
The two parties will make joint investment in FinTech, as well as exploring new innovative models in various financial service areas, including next-generation payment systems. To these ends, the two companies will establish task forces and discuss ways to develop next-generation payment systems.
KG Inicis, the major e-payment service provider in Korea, has about 100,000 merchants as its members, with the amount of annual transactions exceeding 10 trillion won.
