KITA News and Reports
  • KITA Signs MOU with Alipay, China’s Largest Online Payment Service Provider
    2016-11-25

    KITA Signs MOU with Alipay, China’s Largest Online Payment Service Provider

     

    - Alipay’s first official overseas O2O customer service center at COEX -

    - Expand joint efforts, such as discovering Korean and Chinese start-up businesses and holding seminars, to foster Fintech industry -

      

    The Korea International Trade Association (KITA) and Ant Financial Group’s affiliates, Alipay, China’s largest online payment service provider, and ICB (Alipay’s official Korean Agent) signed the ‘Memorandum of Understanding on the Promotion of COEX Mall and the Development of Korea-China Fintech industry’ at Trade Tower in Samseong-dong, Seoul on November 22 (Tuesday) and agreed to jointly push forward cooperation projects.

      

    KITA held an official ceremony to announce the launch of the first Alipay’s overseas Customer Service Center at COEX mall with Kim Jung-kwan, vice chairman of KITA, Douglad Feagin, vice president of Ant Financial Service Group, and Lee Han-young, CEO of ICB. 

     

    Since this Alipay Customer Center will enable Chinese visitors to experience Alipay’s O2O payment service and provide various customer services such as luggage storage, tax refund and currency exchange to Chinese visitors, it is expected that the Alipay Customer Service Center will play a big role to boost the businesses at COEX Mall as well as to raise awareness of the mall.

     

    In particular, in the center, there will be separate space to showcase the quality products of the small and medium sized companies who sell products via ‘Kmall24’, the direct overseas sales platform run by KITA, with a view to actively supporting SMEs’ K-Wave marketing to enter into China’s consumer market.   

     

    Choi Won-ho, director of e-Biz Support Center of KITA, stated The association will strengthen its marketing efforts utilizing for products from local small and medium-sized enterprises (SMEs) COEX Mall infrastructure. We will also continue to expand the joint efforts with Alipay, who leads the world’s mobile payment and finance area, in order to promote a variety of businesses for the development of rapidly growing Fintech industry as well as the expansion of digital trade through discovering South Korean and Chinese start-up businesses and holding Fintech industry-related seminars and consultation meetings. 

     

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