Lee Seung-gun, operator of financial tech company Viva Republica, came under fire from his company staff for promising to sell his house to support 10 of his employees, instead of the 100 he had initially promised a day ago.
The Financial Supervisory Service has begun an on-site inspection of Toss Bank after a glitch caused Japanese yen to be traded at roughly half price on the finance app.
Following a surge in foreign users, Toss has expanded its in-app services to support four additional languages, streamlining financial tasks for non-Korean speakers, the local fintech company said Monday.
Korean fintech company Toss announced Tuesday that its facial recognition payment service, Toss Facepay, has surpassed 400,000 subscribers since its trial launch earlier this year and will be rolled out nationwide by the end of 2025.
Mobile payment service Toss will waive fees for foreign residents in Korea when making international money transfers until the end of the year.
Starting Wednesday, users can now issue government-certified mobile identification cards through apps from Naver, KakaoBank, Toss, KB Kookmin Bank and NongHyup Bank.
Payment service company Toss said Tuesday that the number of foreign nationals registered on its platform reached 460,000 as of the first half of 2025, up about 30 percent from 360,000 during the same period last year.
Toss aims for international users to constitute half its base and announced financial support for startups.
A model at a GS25 demonstrates a face-scanning payment system created by mobile financial firm Toss on Feb. 12.
Toss plans legal action against Kakao for restricting its promotional services, while Kakao denies the allegations, citing policy and system overload issues.
Korea JoongAng Daily Sitemap
