On June 27, 2024, KOCHK and KOCJ entered into an authorization agreement, under which KOCHK, an indirectly wholly-owned subsidiary of the company, will develop C-PON business globally.
It is reported that C-PON is a multifunctional platform developed and operated by KOCJ in Japan, integrating coupon and payment functions. Currently, it has about 1.5 million users and over 10,000 merchants in Japan. KOCJ also owns the hair removal chain Musee Platinum (with about 4.5 million members and 185 stores).
C-PON was upgraded in April 2024 and supports not only Japanese but also Chinese, Korean and English. In addition, a comprehensive AI online multilingual medical and consulting system will be launched in 2024. The system enables doctors and patients to have cross-country conversations without language barriers. The AI system can recommend postoperative pictures to patients. C-PON also has built-in live streaming business functions, which can significantly increase the sales of products (such as cosmetics) that require video explanation.
With the release of new features, KOCHK and KOCJ believe that the C-PON business model developed by KOC JAPAN can be expanded globally.
The Board of Directors believes that the authorization agreement is a good opportunity for the Group to expand and enrich its dining and information technology business units, thereby enhancing the Group's overall profitability.