[Edaily Reporter Kim Hyun-ah ] KGINICIS CO.,LTD.(035600)is participating in Phase 2 of “Project Hangang,” the Bank of Korea’s Central Bank Digital Currency (CBDC) pilot program, and is set to begin building a deposit token payment infrastructure. The plan is to enhance convenience for consumers and merchants by enabling the use of deposit tokens while leveraging existing online payment systems as-is.

KGINICIS CO.,LTD. announced on the 23rd that it attended the kickoff ceremony for the “Deposit Token Payment Infrastructure Expansion Project,” led by the Korea Internet & Security Agency (KISA) under the Ministry of Science and ICT, and has officially begun building the digital currency payment network.

This project is a core component of Phase 2 of “Project Hangang,” the Bank of Korea’s CBDC pilot project, and aims to lay the groundwork for commercialization by expanding the online use cases for deposit tokens.

Image: GenerAI

KGINICIS CO.,LTD. will build a core application programming interface (API) that connects the “Hangang System,” through which digital currency circulates, with its own payment gateway (PG) system. This will enable KGINICIS CO.,LTD. merchants to support deposit token payments within their existing payment environment without the need for separate system development or additional costs.

The company expects that as the range of places where deposit tokens can be used expands significantly, consumer payment convenience will also increase substantially.

The deposit token payment infrastructure is also expected to be utilized in the government’s digital fiscal transformation policy. The government is pursuing a plan to transition 25% of national treasury fund disbursements to a digital currency-based system by 2030.

KGINICIS CO.,LTD. plans to use its payment network to expand the use of deposit tokens for policy funds—such as vouchers, subsidies, and operational expenses—while also enhancing the transparency of fund disbursement by integrating smart contract technology with its payment system.

Smart contracts are a technology that automatically executes transactions by encoding conditions such as intended use, deadlines, and limits into code. The company explains that this can prevent misuse of funds and reduce fiscal leakage.

KGINICIS CO.,LTD. stated, “We aim to establish ourselves as a key player leading South Korea’s deposit token payment ecosystem,” adding, “Beyond introducing new payment methods, we will build the infrastructure for digital currency circulation and contribute to enhancing the public’s payment experience and the nation’s digital fiscal system.”