KOMSCO chief, PR head chronicle shift from cash to digital trust in new book

Sung Chang-hoon, president and CEO of the Korea Minting, Security Printing & ID Card Operating Corp. (KOMSCO), alongside his head of public relations Woo Jin-goo, have penned a book that delves into how the state-run company is transitioning away from traditional cash-based operations. Titled "Stories of Currency That Change the World: A Journey of Turning Crisis into Opportunity," the book charts KOMSCO's journey from printing banknotes and minting coins to venturing into the realms of digital identification, payment platforms, and other security-driven services.

The primary challenge for the authors was to pinpoint the core value that KOMSCO possesses in a market where the demand for its conventional products is waning. They argue that trust serves as the bedrock of KOMSCO's business, drawing on its expertise in safeguarding physical currency and identification documents as they expand into digital services.

An illustrative example is mobile identification, a service made possible through the same security technologies honed over years of producing banknotes and ID cards. The authors also explore the hurdles faced during this transformation.