[E-Daily Reporter Kang Min-koo ] Business data platform company coocon Corporation(294570)supported the development of financial infrastructure for the public trust sector by providing payment services for the National Pension Service’s “Dementia-Friendly Asset Management Service” pilot project.

According to the Committee on Low Birthrate and Aging Society, the assets held by dementia patients aged 65 and older in South Korea amounted to approximately 154 trillion won as of 2023. As cases of financial fraud and economic abuse exploiting cognitive decline have increased, the government launched a pilot project for the “Dementia-Safe Asset Management Service” last April to protect elderly individuals who have difficulty managing their assets on their own. This program is a system in which public institutions manage users’ assets on their behalf through a trust arrangement. As the trustee, the National Pension Service manages and disburses users’ funds—including medical expenses, long-term care costs, and living expenses—and is responsible for regularly reviewing the details of asset usage.

In this project, coocon Corporation provided payment services—including virtual accounts, deposit transfers, transaction history notifications, and account holder inquiries—to support the National Pension Service’s fund management system, covering everything from the receipt of trust assets to their disbursement, verification, and post-transaction notifications.

First, it helped create an environment where national pension benefits, welfare payments, and various subsidies could be deposited into trust accounts through dedicated virtual accounts for each beneficiary. Subsequently, the fund transfer service enabled the National Pension Service to pay taxes and public utility bills on behalf of the beneficiaries. During the fund disbursement process, coocon Corporation’s account holder lookup feature was used to pre-verify recipient account information, thereby minimizing the risk of erroneous disbursements. After transactions were completed, the transaction history notification service quickly provided updates on the results of fund processing, thereby enhancing operational accuracy and user convenience.

Based on its integration technology optimized for each institution’s system environment and its financial data processing capabilities, coocon Corporation plans to support various digital transformation projects for public and financial institutions.

Kim Jong-hyun, CEO of coocon Corporation, stated, “It is meaningful to confirm through this project that digital technology can serve as a practical safety net for protecting the assets of senior citizens.” He added, “Moving forward, as a financial infrastructure partner supporting the digital transformation of public institutions, we will contribute to protecting vulnerable groups—including senior citizens—and continue to realize social value and technological innovation.”