WebCash(053580) group's business data platform corporations COOCON(294570) posted second-quarter revenue of 17.96 billion won and operating profit of 4.96 billion won. The results were up 12.2% and 10.9%, respectively, from a year earlier.
COOCON said on the 21st that it held the "2026 second-quarter regular investor relations (IR)" at its headquarters in Yeongdeungpo District, Seoul, on the 20th and presented its second-quarter business results, key business status, and second-half strategy.
By business institutional sector, the data institutional sector recorded revenue of 8.65 billion won and operating profit of 2.72 billion won, maintaining an operating margin of 31.5%. The payment institutional sector posted revenue of 9.31 billion won and operating profit of 2.23 billion won.
As for new businesses, in the artificial intelligence (AI) data business, it opened a Model Context Protocol (MCP)-based application programming interface (API) product hall for the first time in Korea and launched about 30 products in the second quarter. In the second half, it plans to expand this to about 100 products and aims to complete the transition of all product lines to MCP-based APIs by next year.
In the global payments business, it opened seven simple payment services through partnerships with ▲ UnionPay ▲ WeChat Pay ▲ Alipay ▲ PayPay ▲ Indonesia QRIS ▲ Liquid Group, among others. It is expanding its global payment infrastructure (infrastructure) based on partnerships with more than 50 global payment partners in 20 countries. In the second half, it plans to increase merchants mainly in areas with high demand from foreigners, such as hospitals and large franchises.
In the stablecoin business, it completed demonstrations ranging from stablecoin top-ups and quick response (QR) payments to automated teller machine (ATM) withdrawals and settlement, in connection with domestic and overseas virtual asset business operators.
It is also accelerating its entry into overseas markets. It will establish a local subsidiary in Singapore within the year and seek to obtain a Singapore electronic financial business license by the end of next year. Using Singapore as a base, it plans to expand its business scope in the Southeast Asian market of 700 million people to include ecommerce sales proceeds settlement, business-to-business (B2B) fund settlement, and a stablecoin platform.
COOCON CEO Kim Jong-hyun said, "With the establishment of the Singapore subsidiary as a turning point, we will expand our global business base and local partnerships, while enhancing shareholder value and corporations value together through ongoing shareholder-return policies."