GLN Consortium Member Gathering was successfully held in Seoul, Korea

December  •  2017

The First GLN Consortium Member Gathering was held on November 24th at Hotel Shilla, Seoul Korea.

Being the very first event to meet with one another, members from 36 participant companies of 11 countries passionately shared the vision of GLN businesses. Not only signatories of the GLN Consortium, but also companies interested in connecting their own service to GLN participated in the meeting.

Main speakers to open the Consortium Member gathering event were, Kamol, senior vice president of Central group, Yamada Daisuke, Chief Digital Innovation Officer of Mizuho Bank, Futoshi Itani, Managing Executive Officer of Sumitomo Mitsui Trust Bank, and Oliver Shang, CEO of Retail Banking Group of Taishin Financial Group Taiwan, delivering their excitement and future expectation for the GLN business.

Kim Jung-Tai, Chairman&CEO of Hana Financial Group stated in his opening speech that, “An initiative to build a network of digital assets, like in the case of GLN, is an unprecedented innovative project, and therefore once we launch this integrated global platform, customers of partner companies would be able to enjoy exclusive benefits around the world.” He also said, “Financial Roaming service and Blockchain technology are the core of this value-transfer network. With expansion of the partner network and IT development, we will strive to present you with a more innovative and diverse service, that no one has ever imagined before.”

In the following second part of the event, Han Jun-Seong, Deputy president of KEB Hana bank, presented changes of financial sector in the era of the 4th industrial revolution and GLN services in his Keynote speech. Mr. Han said “The Financial sector is transforming itself to a platform-based unbundling feature” and “Let us create an economic ecosystem which provides customer-friendly services and share global payment markets through GLN.”

The keynote speech was followed by an Introduction to achievements on IT development such as, Blockchain PoC, and a demonstration of the coupon purchase. In October this year, the GLN team successfully finished Blockchain PoC on digital money transfer and coupon purchase with Taishin International Bank of Taiwan, one of the partner banks. GLN plans to broaden the application of the Blockchain technology to other GLN services in the future.

In January 2018, a pilot version of the GLN coupon mall would be launched to provide exclusive coupons from Korean partner retailers to inbound foreign tourists during the Pyeong Chang Winter Olympics season. GLN will provide full support to partners to ensure easy connection to GLN services by providing APIs for instance. Full services of GLN will go live in the 2nd quarter of next year, and in the meantime, development of the services will be made with global IT companies, such as Oracle.

GLN Consortium members who would like to participate in the Blockchain PoC and GLN service prototype project are welcomed by the GLN team.

GLN Consortium, as a multiple-party agreement to discuss GLN businesses and promote interaction among members, enables members to achieve updated information on GLN and its IT development status, to take the project to the next level together. With additional members joining the Consortium, GLN will keep on broadening its network. Members from different business sectors, such as financial institutions, retailers, and global online service providers, will be able to offer optimized services to their customers via a unified platform, GLN.

The GLN platform would be managed by a separate entity called GLN International. In its early stage, KEB Hana Bank would act a role of GLN International, but would invite investors later on to establish an independent company. The GLN team will consider
Vol. 2 2017.12.1 GLN Now

providing Consortium members with the opportunity to invest on GLN International. Let us move on together to see the new beginning of the GLN services!