KOMSCO targets digital transformation, $737 million in sales by 2031
The Korea Minting, Security Printing & ID Card Operating Corp. (KOMSCO) is seeking to become the world’s first digital mint and generate annual sales of 1 trillion won ($737 million) by 2031, shifting into new businesses as cash use declines, the state-run company said Thursday. Marking its 75th anniversary, KOMSCO laid out a growth strategy centered on information and communications technology…
Korea's state-run mint and security company, KOMSCO, is aiming to be the first digital mint in the world by generating 1 trillion won in annual sales by 2031, according to the company's 75th-anniversary strategy. With the decline of cash usage, KOMSCO is pivoting towards new ventures centered on information and communications technology (ICT), cultural products, and exports.
Leveraging its extensive technical expertise in currency production and counterfeit prevention, the company's new focus areas include mobile identification, digital vouchers, and other digital services. These initiatives aim to extend KOMSCO's security capabilities into the digital realm, addressing concerns that its traditional currency manufacturing business may face challenges in the future.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
