IP retail platform LINE FRIENDS SQUARE and fintech company Orange Square, which operates the foreigner-only prepaid payment service 'WOWPASS', announced on the 24th that they have signed a strategic business agreement (MOU) to improve shopping convenience and enhance K-content experience for foreign tourists.
This agreement aims to expand the consumption experience of foreign tourists and enhance competitiveness as a tourism content platform by combining experiential IP content and fintech-based payment systems. Through collaboration, the two companies plan to ▲link IP retail and smart payment services ▲plan payment-based promotions ▲operate currency exchange kiosks ▲conduct joint marketing targeting foreigners, etc.
This collaboration was recently piloted at the newly renovated Line Friends Square Hongdae 'K-POP SQUARE'. In particular, the Wowpass payment system will be introduced along with the global boy group ZEROBASEONE's solo pop-up exhibition 'zeroni HOME PARTY', and it is garnering attention as a tourism content service that takes both fan experience and payment convenience into account.
Line Friends Square operates an experiential retail space based on various K-culture IPs, while Orange Square provides fintech-based tourism convenience solutions for foreign tourists through currency exchange, payment, and mobile app services.
This agreement is a representative case of the convergence of K-content and digital payment infrastructure, and the two companies plan to build a sustainable cooperation model through regular joint marketing and data-based performance analysis.
Line Friends Square CEO Koo Kyo-chul said, “We will grow into a representative IP retail platform of Korea by providing differentiated K-retail experiences to foreign tourists,” and Orange Square CEO Lee Jang-baek said, “We will focus on increasing the shopping convenience of foreign tourists and expanding consumption experiences based on K-content and fandom.”
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