The stock price of Hyungji Global, which announced plans to introduce its own payment platform and stablecoin, is continuing to rise.
According to the Korea Exchange on the 3rd, as of 9:33 a.m., Hyungji Global is trading at 5,630 won, up 685 won (13.85%) from the previous trading day.
Earlier, Hyungji Global announced on the 1st that it will develop an integrated payment platform called "Hyungji Pay" (tentative name) and introduce a stablecoin named "Hyungji Coin." Hyungji Pay will integrate Hyungji Group's more than 2,000 distribution networks and 6 million customers into one ecosystem. Based on this, the plan is to expand it into an integrated payment system that can be used by the entire group.
Hyungji Global was established in August 2016 by partitioning off the mid-range golf wear division of Hyungji Group's fashion brand Castelbajac. The company entered the KOSDAQ market in 2019 but struggled with deteriorating performance following the COVID-19 pandemic.