{"content_id":"8vmzx6j8ta","slug":"komsco-revenue-6386-growth-drivers","locale":"en","schema_type":"Article","category":"case_study","category_name":"Case Study","title":"KOMSCO Revenue Hits 638.6 Billion Won: Growth Drivers","summary":"KOMSCO's 2025 revenue was reported at 638.67 billion won. It explains the expanded business structure spanning gift certificate platforms and identity verification, while separately addressing the difference from the announced figure of 639.5 billion won and the outlook for new businesses.","sponsorship_disclosure":null,"affiliate_disclosure":null,"commerce_disclosure":null,"author":{"name":"Injoys Editorial Team","url":"https://injoys.com/ko/about"},"key_points":["Depending on the source, KOMSCO's 2025 revenue was announced as 638.6 billion won or 639.5 billion won.","The Digital Onnuri Gift Certificate's 17 million subscribers indicate the platform's scale and are not the same as revenue or the number of users who actually made payments.","Revenue from currency merchandise in 2025 was about 1.6 billion won, which must be distinguished from the 2026 forecast of 5 billion won.","KOMSCO participates as the organization dedicated to product authentication technology for the K-Brand Government Certification System.","The 2031 revenue target of 1 trillion won is a management goal for its 80th anniversary."],"content_markdown":"The Korea Minting, Security Printing \u0026 ID Card Operating Corporation recovered its revenue by expanding into businesses such as digital payments and authentication. Its 2025 revenue was reported at KRW 638.67 billion. However, another report citing the corporation gave a figure of KRW 639.5 billion.\n\nThe revenue figures are based on 2025 results covered in reports dated September 14 and 17, 2026.\n\n## Decline and Recovery in the Corporation's Revenue\n\nThe corporation recovered from the revenue decline through 2023 by expanding its non-currency businesses. The spread of card and mobile payments weighed on demand for currency production. The corporation responded by expanding the applications of its payment platforms and security technologies.\n\nThe Korea Economic Daily cited ALIO for the following annual revenue figures. Each amount is the annual revenue for that year. The same article described the 2025 results as the highest since the corporation was founded. [The Korea Economic Daily's September 2026 report on results](https://www.hankyung.com/article/2026091439561)\n\n| Fiscal year | Reported annual revenue | Trend |\n| --- | ---: | --- |\n| 2021 | KRW 550 billion | Benchmark before the decline |\n| 2022 | KRW 492.8 billion | Down from the previous year |\n| 2023 | KRW 446.1 billion | Continued decline |\n| 2025 | KRW 638.6 billion | Recovery above the 2021 level |\n\n### Why Revenue for the Same Year Was Reported Differently\n\nThe reports reviewed do not provide enough information to determine why the two amounts differ. The Korea Economic Daily's September 14 report gave a figure of KRW 638.6 billion. The September 17 report covering the corporation's press briefing used KRW 639.5 billion. The difference between the two reported amounts is KRW 900 million. [Financial News report on the 75th anniversary press briefing](https://www.fnnews.com/news/202609170838054703)\n\nThis article does not assume that the difference is due to consolidated versus separate financial statements or year-end adjustments. Its year-by-year comparison follows the figures reported by The Korea Economic Daily. The exact amounts under each accounting basis should be checked in the audit report on ALIO.\n\n## What Is the Digital Gift Certificate Business?\n\nThe digital gift certificate business operates platforms that support issuance and use. The corporation supports gift certificate issuance, payment, and settlement. Merchant management is also included in the service. This represents an expansion from producing paper gift certificates to providing operational services.\n\nLocal Love Gift Certificates and Digital Onnuri Gift Certificates should be distinguished from each other. The corporation's 2025 operating plan also treats them as separate tasks. For Local Love Gift Certificates, it sought to secure participating local governments. For Digital Onnuri Gift Certificates, it sought to expand the nationwide payment network. [Korea Minting, Security Printing \u0026 ID Card Operating Corporation's 2025 operating plan](https://www.komsco.com/attach/preview/691a73d0d7edaf4f05b9a2104508bf91/9a9db098b587ee18b321c826f3707a49)\n\n| Category | Local Love Gift Certificate platform | Integrated Digital Onnuri Gift Certificate platform |\n| --- | --- | --- |\n| Business scope | Operation of gift certificates for participating local governments | Nationwide operation of Onnuri Gift Certificates |\n| Task in the corporation's operating plan | Secure new local governments and retain existing customers | Expand the payment infrastructure and promote use |\n| Basis for interpreting results | Contracts and operating results by local government | Integrated platform registration, use, and operating results |\n\nReports from September 2026 described the Onnuri Gift Certificate platform as having 17 million registered users. It would be inaccurate to present this as the number of users of Local Love Gift Certificates alone. Nor can it be assumed that every registered user actually made a payment. [Financial News explanation of platform registrations](https://www.fnnews.com/news/202609170838054703)\n\nMobile IDs are another digital business that expanded at the same time. Mobile driver's licenses and mobile resident registration cards are leading examples. The recovery in results therefore cannot be attributed solely to a single gift certificate app.\n\n## The Difference Between Currency Merchandise and Art Coins\n\nCurrency merchandise is a cultural business that turns byproducts into products. The money cushion and money pen use byproducts from the currency production process. Merchandise revenue in 2025 was reported at about KRW 1.6 billion. The KRW 5 billion figure for 2026 is an annual forecast. [Kukmin Ilbo's report on the currency merchandise business](https://www.kmib.co.kr/article/view.asp?arcid=1776234460)\n\nMerchandise and precious-metal products generate revenue in different ways. Bullion medals are medals made from precious metals. Art coins combine precious metals with design. The corporation distinguishes merchandise, medals, and art coins in its operating plan. [Korea Minting, Security Printing \u0026 ID Card Operating Corporation's cultural business operating plan](https://www.komsco.com/attach/preview/691a73d0d7edaf4f05b9a2104508bf91/9a9db098b587ee18b321c826f3707a49)\n\n| Business | Typical product characteristics | Factors to review when interpreting results |\n| --- | --- | --- |\n| Currency merchandise | Everyday products made with currency byproducts | Sales volume and revenue by product |\n| Bullion medals | Medals made with precious metals such as gold and silver | Sales volume and material prices |\n| Art coins | Coins combining precious metals with cultural and artistic designs | Issuance and sales results, and the stage of the project |\n\n### Example Calculation for the Merchandise Forecast\n\nBased on the reported figures, the 2026 forecast is about 3.13 times the previous year's revenue. This is calculated by dividing KRW 5 billion by about KRW 1.6 billion. It is not a growth rate based on confirmed 2026 results.\n\n| Calculation item | Formula | Result |\n| --- | --- | ---: |\n| Difference between forecast revenue and previous-year revenue | KRW 5 billion - about KRW 1.6 billion | About KRW 3.4 billion |\n| Forecast revenue as a multiple of the previous year | KRW 5 billion ÷ about KRW 1.6 billion | About 3.13 times |\n\nThe growth rate of merchandise and its contribution to total revenue are separate matters. About KRW 1.6 billion is only part of total revenue measured in hundreds of billions of won. Merchandise sales alone cannot explain the recovery in the corporation's overall revenue.\n\n## How Does the Authenticity Verification Business Use Currency Technology?\n\nAuthenticity verification expands the application of anti-counterfeiting technology to products and works of art. Holograms and security printing make copying more difficult. Technology that embeds security patterns in images is called a digital watermark. Authentication systems read these patterns and other elements to verify authenticity.\n\nThe K-Brand Government Certification Program uses several security features together. The official technology guide describes holograms, AI digital watermarks, and unique codes. The Korea Minting, Security Printing \u0026 ID Card Operating Corporation participates as the agency responsible for the program's technology. [Korea Intellectual Property Protection Agency's guide to authenticity verification technology](https://www.koipa.re.kr/k-brand/web/content.do?menu_cd=000009)\n\nIn the art sector, one contract was signed on May 29, 2025. The corporation signed a brand protection and security printing contract with artist Park Shin-yang's representatives. The announced applications were prints, certificates of authenticity, and postcards. The signing of the contract itself does not indicate the revenue scale of the overall business. [NoCut News report on the contract signing](https://www.nocutnews.co.kr/news/6347585)\n\n## Comparison of the Government Certification Mark and Authenticity Verification Technology\n\nThe government certification mark is a program, while the watermark is a technology that supports it. The certification mark is approved for use after a review. Security technology supports verification that an approved product is authentic. Distinguishing these functions makes the corporation's role clear.\n\nThe Korea Intellectual Property Protection Agency's “Introduction to the K-Brand Government Certification Program” explains it as follows.\n\n\u003e The government directly develops and applies for a national certification mark, reviews each applicant company, and approves its use.\n\nThis means that approval is required to display the certification mark. A security technology contract with the corporation alone does not complete government certification. The official guide presents approval for use and the application of technology as separate stages. [Introduction to the K-Brand Government Certification Program](https://www.koipa.re.kr/k-brand/web/content.do?menu_cd=000008)\n\n| Category | Function | Point to distinguish |\n| --- | --- | --- |\n| National certification mark | Indicates that a product has been approved | Use of the mark requires review and approval |\n| Authenticity verification technology | Reads security features to help verify authenticity | Applies to products and authentication systems using the technology |\n| Counterfeit monitoring | Uses scan data to identify counterfeit trends | Verification results are used for follow-up action |\n| Government-wide response | Coordinates responses to counterfeit goods overseas | A separate response process from technical identification |\n\nAuthentication methods may also differ by service. It should not be generalized that all authenticity checks require a dedicated app. The official K-Brand guide describes smartphone scanning without a separate app. [K-Brand authenticity verification method](https://www.koipa.re.kr/k-brand/web/content.do?menu_cd=000009)\n\n## Scope of Exports and Past Performance Records\n\nThe corporation's business expansion also includes exports of security materials. Banknote paper and cotton pulp are supplied to overseas mints and other organizations. The results of overseas subsidiaries should be distinguished from the corporation's overall results.\n\n| Case | Announcement at the time | Scope to distinguish when interpreting |\n| --- | --- | --- |\n| Indonesian banknote paper order | Announced in 2016, contract value of KRW 28.2 billion | Contract scheduled for delivery in 2016~2017 |\n| Global KOMSCO Daewoo results | Revenue of USD 10.6 million in the first half of 2018 | Half-year results of an overseas subsidiary |\n| Corporation's revenue exceeded KRW 500 billion | Preliminary 2019 revenue of KRW 524.6 billion | Annual results announced in January 2020 |\n\nThe Indonesian contract was announced at the time as the corporation's largest single export contract. The delivery period ran from 2016 to 2017. The full contract value should not be treated as revenue for the year in which it was announced. [Press release published at the time on the Korea Minting, Security Printing \u0026 ID Card Operating Corporation's online store](https://www.koreamint.com/board/content.do?board=komsco\u0026board_group=0\u0026cate=0\u0026params=page%3D0\u0026pidx=2080)\n\nGlobal KOMSCO Daewoo is a subsidiary that produces cotton pulp, a raw material for banknote paper. Its results announcement for the first half of 2018 cited expansion in export markets. It also pursued the development of cotton pulp for industrial uses other than banknotes. [The Korea Financial Newspaper's 2018 report on subsidiary results](https://www.fntimes.com/html/view.php?ud=20180906162348745406703e1d66_18)\n\nThe announcement of 2019 results covered records for revenue, operating profit, and exports. Revenue from pioneering new businesses, including bullion medals, was reported at KRW 295.5 billion. Those records cannot be applied unchanged to 2025. [Newsis report on preliminary results from January 2020](https://mobile.newsis.com/view_amp.html?ar_id=NISX20200113_0000887119)\n\n## Conditions for Subscriber Growth to Lead to Revenue Growth\n\nA platform's profitability cannot be judged solely by its number of registered users. The corporation's 2025 operating plan included lowering the fee rate for mobile gift certificates. This was a task intended to retain existing customers. Even if usage grows, the extent of revenue growth varies depending on contract terms. [Korea Minting, Security Printing \u0026 ID Card Operating Corporation's 2025 operating plan](https://www.komsco.com/attach/preview/691a73d0d7edaf4f05b9a2104508bf91/9a9db098b587ee18b321c826f3707a49)\n\nThis distinction is necessary when assessing the results of business expansion. Gift certificate payment volume is the amount transacted through the platform. The corporation's revenue is the amount recognized as compensation for providing the service. Operating costs must also be considered when evaluating profit.\n\n| Metric | What it shows | What cannot be determined from the metric alone |\n| --- | --- | --- |\n| Registered users | Number registered for the service | Actual frequency of use and profitability |\n| Gift certificate payment volume | Transaction volume processed on the platform | Revenue attributable to the corporation |\n| Business revenue | Business income recognized in the accounts | Profit after deducting costs |\n| Operating profit | Result after deducting expenses from operating income | Full explanation of the causes of growth by business |\n\nGrowth in registered users is evidence that the business base has expanded. However, the exact amount that gift certificates contributed to revenue growth requires separate verification. Revenue by business and contract terms must be reviewed to calculate the contribution.\n\n## Common Mistakes When Reading Results and Targets\n\nActual results, forecasts, and management evaluations should not be grouped together as the same performance metric. The corporation received an A grade in the 2025 management evaluation of public institutions. The related announcement described the expansion of digital businesses and improved profitability. The evaluation grade itself is not a figure proving the profit of a specific business. [Money Today's June 2026 report on the management evaluation](https://www.mt.co.kr/amp/policy/2026/06/22/2026062210150377359)\n\n- **Confusing fiscal years:** Revenue for the previous year reported in 2026 refers to 2025 results.\n- **Confusing registered users with active users:** The number of registered users should not be presented as the number of people who actually made payments.\n- **Confusing forecasts with results:** Merchandise revenue of KRW 5 billion is a forecast for 2026.\n- **Confusing contracts with revenue:** Export order values must be distinguished from revenue recognized over the contract period.\n- **Confusing revenue with profit:** A revenue record alone cannot confirm a record operating profit.\n\n### What the KRW 1 Trillion Revenue Target for 2031 Means\n\nKRW 1 trillion in revenue is a target for 2031, the corporation's 80th anniversary. This vision was also presented at a meeting of former presidents in August 2026. At the time, the corporation said it would continue internal discussions and expert reviews. [Newsis report on discussions of the 2031 vision](https://www.newsis.com/view/NISX20260807_0003740076?pc_view=1)\n\nThis target is not a contract value already secured or confirmed revenue. Future performance must be verified through revenue from platform operations and the authentication business. Actual profits from cultural product sales and overseas businesses should also be reviewed.","content_html":"\u003cp\u003eThe Korea Minting, Security Printing \u0026amp; ID Card Operating Corporation recovered its revenue by expanding into businesses such as digital payments and authentication. Its 2025 revenue was reported at KRW 638.67 billion. However, another report citing the corporation gave a figure of KRW 639.5 billion.\u003c/p\u003e\n\u003cp\u003eThe revenue figures are based on 2025 results covered in reports dated September 14 and 17, 2026.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#decline-and-recovery-in-the-corporations-revenue\" class=\"anchor\" id=\"decline-and-recovery-in-the-corporations-revenue\"\u003e\u003c/a\u003eDecline and Recovery in the Corporation's Revenue\u003c/h2\u003e\n\u003cp\u003eThe corporation recovered from the revenue decline through 2023 by expanding its non-currency businesses. The spread of card and mobile payments weighed on demand for currency production. The corporation responded by expanding the applications of its payment platforms and security technologies.\u003c/p\u003e\n\u003cp\u003eThe Korea Economic Daily cited ALIO for the following annual revenue figures. Each amount is the annual revenue for that year. The same article described the 2025 results as the highest since the corporation was founded. \u003ca href=\"https://www.hankyung.com/article/2026091439561\"\u003eThe Korea Economic Daily's September 2026 report on results\u003c/a\u003e\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eFiscal year\u003c/th\u003e\n\u003cth\u003eReported annual revenue\u003c/th\u003e\n\u003cth\u003eTrend\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Fiscal year\"\u003e2021\u003c/td\u003e\n\u003ctd data-label=\"Reported annual revenue\"\u003eKRW 550 billion\u003c/td\u003e\n\u003ctd data-label=\"Trend\"\u003eBenchmark before the decline\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Fiscal year\"\u003e2022\u003c/td\u003e\n\u003ctd data-label=\"Reported annual revenue\"\u003eKRW 492.8 billion\u003c/td\u003e\n\u003ctd data-label=\"Trend\"\u003eDown from the previous year\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Fiscal year\"\u003e2023\u003c/td\u003e\n\u003ctd data-label=\"Reported annual revenue\"\u003eKRW 446.1 billion\u003c/td\u003e\n\u003ctd data-label=\"Trend\"\u003eContinued decline\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Fiscal year\"\u003e2025\u003c/td\u003e\n\u003ctd data-label=\"Reported annual revenue\"\u003eKRW 638.6 billion\u003c/td\u003e\n\u003ctd data-label=\"Trend\"\u003eRecovery above the 2021 level\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003ch3\u003e\n\u003ca href=\"#why-revenue-for-the-same-year-was-reported-differently\" class=\"anchor\" id=\"why-revenue-for-the-same-year-was-reported-differently\"\u003e\u003c/a\u003eWhy Revenue for the Same Year Was Reported Differently\u003c/h3\u003e\n\u003cp\u003eThe reports reviewed do not provide enough information to determine why the two amounts differ. The Korea Economic Daily's September 14 report gave a figure of KRW 638.6 billion. The September 17 report covering the corporation's press briefing used KRW 639.5 billion. The difference between the two reported amounts is KRW 900 million. \u003ca href=\"https://www.fnnews.com/news/202609170838054703\"\u003eFinancial News report on the 75th anniversary press briefing\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eThis article does not assume that the difference is due to consolidated versus separate financial statements or year-end adjustments. Its year-by-year comparison follows the figures reported by The Korea Economic Daily. The exact amounts under each accounting basis should be checked in the audit report on ALIO.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#what-is-the-digital-gift-certificate-business\" class=\"anchor\" id=\"what-is-the-digital-gift-certificate-business\"\u003e\u003c/a\u003eWhat Is the Digital Gift Certificate Business?\u003c/h2\u003e\n\u003cp\u003eThe digital gift certificate business operates platforms that support issuance and use. The corporation supports gift certificate issuance, payment, and settlement. Merchant management is also included in the service. This represents an expansion from producing paper gift certificates to providing operational services.\u003c/p\u003e\n\u003cp\u003eLocal Love Gift Certificates and Digital Onnuri Gift Certificates should be distinguished from each other. The corporation's 2025 operating plan also treats them as separate tasks. For Local Love Gift Certificates, it sought to secure participating local governments. For Digital Onnuri Gift Certificates, it sought to expand the nationwide payment network. \u003ca href=\"https://www.komsco.com/attach/preview/691a73d0d7edaf4f05b9a2104508bf91/9a9db098b587ee18b321c826f3707a49\"\u003eKorea Minting, Security Printing \u0026amp; ID Card Operating Corporation's 2025 operating plan\u003c/a\u003e\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eCategory\u003c/th\u003e\n\u003cth\u003eLocal Love Gift Certificate platform\u003c/th\u003e\n\u003cth\u003eIntegrated Digital Onnuri Gift Certificate platform\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eBusiness scope\u003c/td\u003e\n\u003ctd data-label=\"Local Love Gift Certificate platform\"\u003eOperation of gift certificates for participating local governments\u003c/td\u003e\n\u003ctd data-label=\"Integrated Digital Onnuri Gift Certificate platform\"\u003eNationwide operation of Onnuri Gift Certificates\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eTask in the corporation's operating plan\u003c/td\u003e\n\u003ctd data-label=\"Local Love Gift Certificate platform\"\u003eSecure new local governments and retain existing customers\u003c/td\u003e\n\u003ctd data-label=\"Integrated Digital Onnuri Gift Certificate platform\"\u003eExpand the payment infrastructure and promote use\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eBasis for interpreting results\u003c/td\u003e\n\u003ctd data-label=\"Local Love Gift Certificate platform\"\u003eContracts and operating results by local government\u003c/td\u003e\n\u003ctd data-label=\"Integrated Digital Onnuri Gift Certificate platform\"\u003eIntegrated platform registration, use, and operating results\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eReports from September 2026 described the Onnuri Gift Certificate platform as having 17 million registered users. It would be inaccurate to present this as the number of users of Local Love Gift Certificates alone. Nor can it be assumed that every registered user actually made a payment. \u003ca href=\"https://www.fnnews.com/news/202609170838054703\"\u003eFinancial News explanation of platform registrations\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eMobile IDs are another digital business that expanded at the same time. Mobile driver's licenses and mobile resident registration cards are leading examples. The recovery in results therefore cannot be attributed solely to a single gift certificate app.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#the-difference-between-currency-merchandise-and-art-coins\" class=\"anchor\" id=\"the-difference-between-currency-merchandise-and-art-coins\"\u003e\u003c/a\u003eThe Difference Between Currency Merchandise and Art Coins\u003c/h2\u003e\n\u003cp\u003eCurrency merchandise is a cultural business that turns byproducts into products. The money cushion and money pen use byproducts from the currency production process. Merchandise revenue in 2025 was reported at about KRW 1.6 billion. The KRW 5 billion figure for 2026 is an annual forecast. \u003ca href=\"https://www.kmib.co.kr/article/view.asp?arcid=1776234460\"\u003eKukmin Ilbo's report on the currency merchandise business\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eMerchandise and precious-metal products generate revenue in different ways. Bullion medals are medals made from precious metals. Art coins combine precious metals with design. The corporation distinguishes merchandise, medals, and art coins in its operating plan. \u003ca href=\"https://www.komsco.com/attach/preview/691a73d0d7edaf4f05b9a2104508bf91/9a9db098b587ee18b321c826f3707a49\"\u003eKorea Minting, Security Printing \u0026amp; ID Card Operating Corporation's cultural business operating plan\u003c/a\u003e\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eBusiness\u003c/th\u003e\n\u003cth\u003eTypical product characteristics\u003c/th\u003e\n\u003cth\u003eFactors to review when interpreting results\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Business\"\u003eCurrency merchandise\u003c/td\u003e\n\u003ctd data-label=\"Typical product characteristics\"\u003eEveryday products made with currency byproducts\u003c/td\u003e\n\u003ctd data-label=\"Factors to review when interpreting results\"\u003eSales volume and revenue by product\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Business\"\u003eBullion medals\u003c/td\u003e\n\u003ctd data-label=\"Typical product characteristics\"\u003eMedals made with precious metals such as gold and silver\u003c/td\u003e\n\u003ctd data-label=\"Factors to review when interpreting results\"\u003eSales volume and material prices\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Business\"\u003eArt coins\u003c/td\u003e\n\u003ctd data-label=\"Typical product characteristics\"\u003eCoins combining precious metals with cultural and artistic designs\u003c/td\u003e\n\u003ctd data-label=\"Factors to review when interpreting results\"\u003eIssuance and sales results, and the stage of the project\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003ch3\u003e\n\u003ca href=\"#example-calculation-for-the-merchandise-forecast\" class=\"anchor\" id=\"example-calculation-for-the-merchandise-forecast\"\u003e\u003c/a\u003eExample Calculation for the Merchandise Forecast\u003c/h3\u003e\n\u003cp\u003eBased on the reported figures, the 2026 forecast is about 3.13 times the previous year's revenue. This is calculated by dividing KRW 5 billion by about KRW 1.6 billion. It is not a growth rate based on confirmed 2026 results.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eCalculation item\u003c/th\u003e\n\u003cth\u003eFormula\u003c/th\u003e\n\u003cth\u003eResult\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Calculation item\"\u003eDifference between forecast revenue and previous-year revenue\u003c/td\u003e\n\u003ctd data-label=\"Formula\"\u003eKRW 5 billion - about KRW 1.6 billion\u003c/td\u003e\n\u003ctd data-label=\"Result\"\u003eAbout KRW 3.4 billion\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Calculation item\"\u003eForecast revenue as a multiple of the previous year\u003c/td\u003e\n\u003ctd data-label=\"Formula\"\u003eKRW 5 billion ÷ about KRW 1.6 billion\u003c/td\u003e\n\u003ctd data-label=\"Result\"\u003eAbout 3.13 times\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eThe growth rate of merchandise and its contribution to total revenue are separate matters. About KRW 1.6 billion is only part of total revenue measured in hundreds of billions of won. Merchandise sales alone cannot explain the recovery in the corporation's overall revenue.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#how-does-the-authenticity-verification-business-use-currency-technology\" class=\"anchor\" id=\"how-does-the-authenticity-verification-business-use-currency-technology\"\u003e\u003c/a\u003eHow Does the Authenticity Verification Business Use Currency Technology?\u003c/h2\u003e\n\u003cp\u003eAuthenticity verification expands the application of anti-counterfeiting technology to products and works of art. Holograms and security printing make copying more difficult. Technology that embeds security patterns in images is called a digital watermark. Authentication systems read these patterns and other elements to verify authenticity.\u003c/p\u003e\n\u003cp\u003eThe K-Brand Government Certification Program uses several security features together. The official technology guide describes holograms, AI digital watermarks, and unique codes. The Korea Minting, Security Printing \u0026amp; ID Card Operating Corporation participates as the agency responsible for the program's technology. \u003ca href=\"https://www.koipa.re.kr/k-brand/web/content.do?menu_cd=000009\"\u003eKorea Intellectual Property Protection Agency's guide to authenticity verification technology\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eIn the art sector, one contract was signed on May 29, 2025. The corporation signed a brand protection and security printing contract with artist Park Shin-yang's representatives. The announced applications were prints, certificates of authenticity, and postcards. The signing of the contract itself does not indicate the revenue scale of the overall business. \u003ca href=\"https://www.nocutnews.co.kr/news/6347585\"\u003eNoCut News report on the contract signing\u003c/a\u003e\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#comparison-of-the-government-certification-mark-and-authenticity-verification-technology\" class=\"anchor\" id=\"comparison-of-the-government-certification-mark-and-authenticity-verification-technology\"\u003e\u003c/a\u003eComparison of the Government Certification Mark and Authenticity Verification Technology\u003c/h2\u003e\n\u003cp\u003eThe government certification mark is a program, while the watermark is a technology that supports it. The certification mark is approved for use after a review. Security technology supports verification that an approved product is authentic. Distinguishing these functions makes the corporation's role clear.\u003c/p\u003e\n\u003cp\u003eThe Korea Intellectual Property Protection Agency's “Introduction to the K-Brand Government Certification Program” explains it as follows.\u003c/p\u003e\n\u003cblockquote\u003e\n\u003cp\u003eThe government directly develops and applies for a national certification mark, reviews each applicant company, and approves its use.\u003c/p\u003e\n\u003c/blockquote\u003e\n\u003cp\u003eThis means that approval is required to display the certification mark. A security technology contract with the corporation alone does not complete government certification. The official guide presents approval for use and the application of technology as separate stages. \u003ca href=\"https://www.koipa.re.kr/k-brand/web/content.do?menu_cd=000008\"\u003eIntroduction to the K-Brand Government Certification Program\u003c/a\u003e\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eCategory\u003c/th\u003e\n\u003cth\u003eFunction\u003c/th\u003e\n\u003cth\u003ePoint to distinguish\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eNational certification mark\u003c/td\u003e\n\u003ctd data-label=\"Function\"\u003eIndicates that a product has been approved\u003c/td\u003e\n\u003ctd data-label=\"Point to distinguish\"\u003eUse of the mark requires review and approval\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eAuthenticity verification technology\u003c/td\u003e\n\u003ctd data-label=\"Function\"\u003eReads security features to help verify authenticity\u003c/td\u003e\n\u003ctd data-label=\"Point to distinguish\"\u003eApplies to products and authentication systems using the technology\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eCounterfeit monitoring\u003c/td\u003e\n\u003ctd data-label=\"Function\"\u003eUses scan data to identify counterfeit trends\u003c/td\u003e\n\u003ctd data-label=\"Point to distinguish\"\u003eVerification results are used for follow-up action\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eGovernment-wide response\u003c/td\u003e\n\u003ctd data-label=\"Function\"\u003eCoordinates responses to counterfeit goods overseas\u003c/td\u003e\n\u003ctd data-label=\"Point to distinguish\"\u003eA separate response process from technical identification\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eAuthentication methods may also differ by service. It should not be generalized that all authenticity checks require a dedicated app. The official K-Brand guide describes smartphone scanning without a separate app. \u003ca href=\"https://www.koipa.re.kr/k-brand/web/content.do?menu_cd=000009\"\u003eK-Brand authenticity verification method\u003c/a\u003e\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#scope-of-exports-and-past-performance-records\" class=\"anchor\" id=\"scope-of-exports-and-past-performance-records\"\u003e\u003c/a\u003eScope of Exports and Past Performance Records\u003c/h2\u003e\n\u003cp\u003eThe corporation's business expansion also includes exports of security materials. Banknote paper and cotton pulp are supplied to overseas mints and other organizations. The results of overseas subsidiaries should be distinguished from the corporation's overall results.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eCase\u003c/th\u003e\n\u003cth\u003eAnnouncement at the time\u003c/th\u003e\n\u003cth\u003eScope to distinguish when interpreting\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Case\"\u003eIndonesian banknote paper order\u003c/td\u003e\n\u003ctd data-label=\"Announcement at the time\"\u003eAnnounced in 2016, contract value of KRW 28.2 billion\u003c/td\u003e\n\u003ctd data-label=\"Scope to distinguish when interpreting\"\u003eContract scheduled for delivery in 2016~2017\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Case\"\u003eGlobal KOMSCO Daewoo results\u003c/td\u003e\n\u003ctd data-label=\"Announcement at the time\"\u003eRevenue of USD 10.6 million in the first half of 2018\u003c/td\u003e\n\u003ctd data-label=\"Scope to distinguish when interpreting\"\u003eHalf-year results of an overseas subsidiary\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Case\"\u003eCorporation's revenue exceeded KRW 500 billion\u003c/td\u003e\n\u003ctd data-label=\"Announcement at the time\"\u003ePreliminary 2019 revenue of KRW 524.6 billion\u003c/td\u003e\n\u003ctd data-label=\"Scope to distinguish when interpreting\"\u003eAnnual results announced in January 2020\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eThe Indonesian contract was announced at the time as the corporation's largest single export contract. The delivery period ran from 2016 to 2017. The full contract value should not be treated as revenue for the year in which it was announced. \u003ca href=\"https://www.koreamint.com/board/content.do?board=komsco\u0026amp;board_group=0\u0026amp;cate=0\u0026amp;params=page%3D0\u0026amp;pidx=2080\"\u003ePress release published at the time on the Korea Minting, Security Printing \u0026amp; ID Card Operating Corporation's online store\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eGlobal KOMSCO Daewoo is a subsidiary that produces cotton pulp, a raw material for banknote paper. Its results announcement for the first half of 2018 cited expansion in export markets. It also pursued the development of cotton pulp for industrial uses other than banknotes. \u003ca href=\"https://www.fntimes.com/html/view.php?ud=20180906162348745406703e1d66_18\"\u003eThe Korea Financial Newspaper's 2018 report on subsidiary results\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eThe announcement of 2019 results covered records for revenue, operating profit, and exports. Revenue from pioneering new businesses, including bullion medals, was reported at KRW 295.5 billion. Those records cannot be applied unchanged to 2025. \u003ca href=\"https://mobile.newsis.com/view_amp.html?ar_id=NISX20200113_0000887119\"\u003eNewsis report on preliminary results from January 2020\u003c/a\u003e\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#conditions-for-subscriber-growth-to-lead-to-revenue-growth\" class=\"anchor\" id=\"conditions-for-subscriber-growth-to-lead-to-revenue-growth\"\u003e\u003c/a\u003eConditions for Subscriber Growth to Lead to Revenue Growth\u003c/h2\u003e\n\u003cp\u003eA platform's profitability cannot be judged solely by its number of registered users. The corporation's 2025 operating plan included lowering the fee rate for mobile gift certificates. This was a task intended to retain existing customers. Even if usage grows, the extent of revenue growth varies depending on contract terms. \u003ca href=\"https://www.komsco.com/attach/preview/691a73d0d7edaf4f05b9a2104508bf91/9a9db098b587ee18b321c826f3707a49\"\u003eKorea Minting, Security Printing \u0026amp; ID Card Operating Corporation's 2025 operating plan\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eThis distinction is necessary when assessing the results of business expansion. Gift certificate payment volume is the amount transacted through the platform. The corporation's revenue is the amount recognized as compensation for providing the service. Operating costs must also be considered when evaluating profit.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eMetric\u003c/th\u003e\n\u003cth\u003eWhat it shows\u003c/th\u003e\n\u003cth\u003eWhat cannot be determined from the metric alone\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Metric\"\u003eRegistered users\u003c/td\u003e\n\u003ctd data-label=\"What it shows\"\u003eNumber registered for the service\u003c/td\u003e\n\u003ctd data-label=\"What cannot be determined from the metric alone\"\u003eActual frequency of use and profitability\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Metric\"\u003eGift certificate payment volume\u003c/td\u003e\n\u003ctd data-label=\"What it shows\"\u003eTransaction volume processed on the platform\u003c/td\u003e\n\u003ctd data-label=\"What cannot be determined from the metric alone\"\u003eRevenue attributable to the corporation\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Metric\"\u003eBusiness revenue\u003c/td\u003e\n\u003ctd data-label=\"What it shows\"\u003eBusiness income recognized in the accounts\u003c/td\u003e\n\u003ctd data-label=\"What cannot be determined from the metric alone\"\u003eProfit after deducting costs\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Metric\"\u003eOperating profit\u003c/td\u003e\n\u003ctd data-label=\"What it shows\"\u003eResult after deducting expenses from operating income\u003c/td\u003e\n\u003ctd data-label=\"What cannot be determined from the metric alone\"\u003eFull explanation of the causes of growth by business\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eGrowth in registered users is evidence that the business base has expanded. However, the exact amount that gift certificates contributed to revenue growth requires separate verification. Revenue by business and contract terms must be reviewed to calculate the contribution.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#common-mistakes-when-reading-results-and-targets\" class=\"anchor\" id=\"common-mistakes-when-reading-results-and-targets\"\u003e\u003c/a\u003eCommon Mistakes When Reading Results and Targets\u003c/h2\u003e\n\u003cp\u003eActual results, forecasts, and management evaluations should not be grouped together as the same performance metric. The corporation received an A grade in the 2025 management evaluation of public institutions. The related announcement described the expansion of digital businesses and improved profitability. The evaluation grade itself is not a figure proving the profit of a specific business. \u003ca href=\"https://www.mt.co.kr/amp/policy/2026/06/22/2026062210150377359\"\u003eMoney Today's June 2026 report on the management evaluation\u003c/a\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\n\u003cstrong\u003eConfusing fiscal years:\u003c/strong\u003e Revenue for the previous year reported in 2026 refers to 2025 results.\u003c/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eConfusing registered users with active users:\u003c/strong\u003e The number of registered users should not be presented as the number of people who actually made payments.\u003c/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eConfusing forecasts with results:\u003c/strong\u003e Merchandise revenue of KRW 5 billion is a forecast for 2026.\u003c/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eConfusing contracts with revenue:\u003c/strong\u003e Export order values must be distinguished from revenue recognized over the contract period.\u003c/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eConfusing revenue with profit:\u003c/strong\u003e A revenue record alone cannot confirm a record operating profit.\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e\n\u003ca href=\"#what-the-krw-1-trillion-revenue-target-for-2031-means\" class=\"anchor\" id=\"what-the-krw-1-trillion-revenue-target-for-2031-means\"\u003e\u003c/a\u003eWhat the KRW 1 Trillion Revenue Target for 2031 Means\u003c/h3\u003e\n\u003cp\u003eKRW 1 trillion in revenue is a target for 2031, the corporation's 80th anniversary. This vision was also presented at a meeting of former presidents in August 2026. At the time, the corporation said it would continue internal discussions and expert reviews. \u003ca href=\"https://www.newsis.com/view/NISX20260807_0003740076?pc_view=1\"\u003eNewsis report on discussions of the 2031 vision\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eThis target is not a contract value already secured or confirmed revenue. Future performance must be verified through revenue from platform operations and the authentication business. Actual profits from cultural product sales and overseas businesses should also be reviewed.\u003c/p\u003e\n","tags":["Technology strategy","Platform Business","Korea Minting Corporation"],"faqs":[{"question":"Why did KOMSCO's sales increase even as cash use declined?","answer":"Because it expanded its business scope to include voucher platforms and mobile IDs. It also pursued authenticity verification using security technology, as well as cultural and export businesses. However, the amount each business contributed to the increase in sales must be confirmed separately."},{"question":"Were KOMSCO's 2025 sales 638.6 billion won or 639.5 billion won?","answer":"A September 14, 2026 report by The Korea Economic Daily cited 638.6 billion won. A September 17 report covering a KOMSCO briefing used 639.5 billion won. The reason for the discrepancy has not been confirmed, so the amounts under each accounting standard must be compared with the ALIO audit report."},{"question":"What does the figure of 17 million digital voucher subscribers mean?","answer":"Reports from September 2026 described it as the number of subscribers to the integrated Digital Onnuri Gift Certificate platform. It should not be interpreted as the number of subscribers to local gift certificates alone. It must also be distinguished from the number of people who actually made payments."},{"question":"Is the entire voucher payment volume counted as KOMSCO's sales?","answer":"Voucher payment volume and KOMSCO's sales are different metrics. Payment volume is the scale of transactions processed through the platform. KOMSCO's sales are business revenue recognized according to contracts and accounting standards."},{"question":"Has the 5 billion won in currency merchandise sales already been achieved?","answer":"It is a forecast for 2026 cited in reports. Merchandise sales in 2025 were described as approximately 1.6 billion won. Whether the annual target is achieved in 2026 must be confirmed in subsequent earnings announcements."},{"question":"Are the money cushion and art coins part of the same business?","answer":"The money cushion is merchandise made from currency production byproducts. Art coins combine precious metals with cultural and artistic designs. KOMSCO's operating plan also categorizes them as separate businesses."},{"question":"What is KOMSCO responsible for under the K-Brand government certification system?","answer":"According to the official information, it participates as the agency dedicated to authenticity verification technology. It uses holograms, AI digital watermarks, and unique codes for each product. Approval to use the national certification mark and the application of the technology are separate steps."},{"question":"Is a dedicated app always required to verify authenticity?","answer":"The verification method varies by authentication service. The official technical information for the K-Brand government certification system describes a method of scanning with a smartphone without a separate app. You must check the instructions for the authentication service applied to the product."},{"question":"What works are covered by the contract with artist Park Shin-yang?","answer":"The items announced on May 29, 2025 as covered by the contract are prints, certificates of authenticity, and postcards. The contract concerns the application of authenticity verification technology to these products. It should not be broadly interpreted as an appraisal contract covering all of his works."},{"question":"Does the report about sales surpassing 500 billion won refer to 2025 results?","answer":"The report that sales had surpassed 500 billion won for the first time covers the 2019 results. Preliminary sales announced in January 2020 were 524.6 billion won. This should be distinguished from reports on the 2025 results."},{"question":"Is the sales target of 1 trillion won by 2031 a confirmed forecast?","answer":"It is a management target for KOMSCO's 80th anniversary. It is not a contract value that has already been secured or sales that are certain to be achieved. Progress must be checked through subsequent results for each business."}],"sources":[{"url":"https://www.hankyung.com/article/2026091439561","title":"The Korea Economic Daily, report on Korea Minting, Security Printing \u0026 ID Card Operating Corporation's revenue and business diversification, September 14, 2026","type":"data_point"},{"url":"https://www.fnnews.com/news/202609170838054703","title":"Financial News, Korea Minting, Security Printing \u0026 ID Card Operating Corporation Overcomes the Cashless Society Crisis and Transforms into a Digital Trust Company","type":"data_point"},{"url":"https://www.komsco.com/attach/preview/691a73d0d7edaf4f05b9a2104508bf91/9a9db098b587ee18b321c826f3707a49","title":"Korea Minting, Security Printing \u0026 ID Card Operating Corporation, 2025 Operating Plan","type":"source"},{"url":"https://www.kmib.co.kr/article/view.asp?arcid=1776234460","title":"Kukmin Ilbo, Discarded Money Becomes Good Luck, April 17, 2026","type":"data_point"},{"url":"https://www.koipa.re.kr/k-brand/web/content.do?menu_cd=000009","title":"Korea Intellectual Property Protection Agency, Introduction to Product Authentication Technology and the Genuine and Counterfeit Product Monitoring System","type":"source"},{"url":"https://www.koipa.re.kr/k-brand/web/content.do?menu_cd=000008","title":"Korea Intellectual Property Protection Agency, Introduction to the K-Brand Government Certification System","type":"source"},{"url":"https://www.nocutnews.co.kr/news/6347585","title":"No Cut News, Korea Minting, Security Printing \u0026 ID Card Operating Corporation and Park Shin-yang Sign Artwork Brand Protection Agreement, May 29, 2025","type":"source"},{"url":"https://www.koreamint.com/board/content.do?board=komsco\u0026board_group=0\u0026cate=0\u0026params=page%3D0\u0026pidx=2080","title":"Korea Minting, Security Printing \u0026 ID Card Operating Corporation Online Store, Contract Awarded for Indonesian Banknote Paper, Reposted Press Release from May 3, 2016","type":"source"},{"url":"https://www.fntimes.com/html/view.php?ud=20180906162348745406703e1d66_18","title":"The Korea Financial Newspaper, Global KOMSCO Daewoo's Results for the First Half of 2018","type":"data_point"},{"url":"https://mobile.newsis.com/view_amp.html?ar_id=NISX20200113_0000887119","title":"Newsis, Korea Minting, Security Printing \u0026 ID Card Operating Corporation's Preliminary 2019 Results, January 13, 2020","type":"data_point"},{"url":"https://www.mt.co.kr/amp/policy/2026/06/22/2026062210150377359","title":"Money Today, Korea Minting, Security Printing \u0026 ID Card Operating Corporation Receives an A Grade in the 2025 Public Institution Management Evaluation","type":"source"},{"url":"https://www.newsis.com/view/NISX20260807_0003740076?pc_view=1","title":"Newsis, Former Presidents of Korea Minting, Security Printing \u0026 ID Card Operating Corporation Discuss the 2031 Vision, August 7, 2026","type":"source"}],"images":[{"id":1487,"url":"https://injoys.com/rails/active_storage/blobs/proxy/eyJfcmFpbHMiOnsiZGF0YSI6MjE2NjQsInB1ciI6ImJsb2JfaWQifX0=--0c1477198ab9a8d42b33a10304b61ba4e8cb55b1/ai-4be81c31.webp","is_representative":true,"generation_method":"ai_photo","license":"ai_generated","mime_type":"image/webp","width":1536,"height":1024,"translations":{"ko":{"alt":"실내 전통시장에서 상인이 스마트폰을 보며 홀로그램 봉인이 붙은 상품 상자를 들고 있다.","caption":"조폐공사의 성장 배경에는 상품권 플랫폼과 정품인증으로 넓어진 사업이 있습니다.","description":null},"en":{"alt":"A vendor at a covered Korean market checks her phone while holding a product box with a holographic seal.","caption":"The mint's growth reflects its expansion into voucher platforms and product authentication.","description":null},"ja":{"alt":"韓国の屋根付き市場で、店主がホログラムシール付きの商品箱を持ち、スマートフォンを見ている。","caption":"韓国造幣公社の成長には、商品券プラットフォームや正規品認証への事業拡大が寄与しています。","description":null},"es":{"alt":"Una comerciante en un mercado cubierto de Corea mira su móvil mientras sostiene una caja con un sello holográfico.","caption":"El crecimiento de la entidad refleja su expansión a las plataformas de vales y la autenticación de productos.","description":null},"id":{"alt":"Pedagang di pasar tradisional beratap di Korea melihat ponsel sambil memegang kotak produk bersegel hologram.","caption":"Pertumbuhan lembaga percetakan uang Korea mencerminkan perluasan bisnis ke platform voucher dan autentikasi produk.","description":null},"pt":{"alt":"Uma comerciante num mercado coberto da Coreia olha para o telemóvel enquanto segura uma caixa com selo holográfico.","caption":"O crescimento da entidade reflete a expansão para plataformas de vales e autenticação de produtos.","description":null},"zh-hant":{"alt":"韓國室內傳統市場的店主看著手機，手持貼有全像防偽標籤的商品盒。","caption":"韓國造幣公社的成長反映了業務向商品券平台與正品認證領域拓展。","description":null},"de":{"alt":"Eine Händlerin auf einem überdachten koreanischen Markt blickt auf ihr Handy und hält eine Schachtel mit Hologrammsiegel.","caption":"Das Wachstum der Münzanstalt spiegelt den Ausbau von Gutscheinplattformen und Produktauthentifizierung wider.","description":null}}},{"id":1488,"url":"https://injoys.com/rails/active_storage/blobs/proxy/eyJfcmFpbHMiOnsiZGF0YSI6MjE2NzAsInB1ciI6ImJsb2JfaWQifX0=--179cbdb7610fcd4b9d480f0ba124c0cdc8290253/ai-a2edd250.webp","is_representative":false,"generation_method":"ai_semi","license":"ai_generated","mime_type":"image/webp","width":1536,"height":1024,"translations":{"ko":{"alt":"인쇄 작업장에서 한국인 여성 기술자가 홀로그램 무늬가 있는 인쇄물을 살펴본다.","caption":"한국조폐공사는 K-브랜드 정부인증제도의 정품인증 기술 전담 기관으로 참여합니다.","description":null},"en":{"alt":"A Korean print technician examines a sheet with a holographic pattern in a printing workshop.","caption":"Korea Minting and Security Printing Corporation is participating as the agency responsible for authentication technology in the K-Brand government certification program.","description":null},"ja":{"alt":"印刷工房で韓国人の女性技術者がホログラム模様のある印刷物を確認している。","caption":"韓国造幣公社はKブランド政府認証制度に真贋認証技術の担当機関として参加します。","description":null},"es":{"alt":"Una técnica coreana examina una hoja impresa con un patrón holográfico en un taller de impresión.","caption":"La corporación surcoreana de acuñación e impresión participa como entidad encargada de la tecnología de autenticación del programa gubernamental K-Brand.","description":null},"id":{"alt":"Teknisi cetak Korea memeriksa lembar cetakan berpola hologram di ruang percetakan.","caption":"Korea Minting and Security Printing Corporation berperan sebagai lembaga penanggung jawab teknologi autentikasi dalam program sertifikasi pemerintah K-Brand.","description":null},"pt":{"alt":"Uma técnica coreana examina uma folha impressa com padrão holográfico numa oficina de impressão.","caption":"A corporação sul-coreana de cunhagem e impressão participa como responsável pela tecnologia de autenticação no programa governamental K-Brand.","description":null},"zh-hant":{"alt":"一名韓國女性印刷技師在印刷工坊檢查帶有全像圖案的印刷品。","caption":"韓國造幣公社參與K-Brand政府認證制度，負責正品認證技術。","description":null},"de":{"alt":"Eine koreanische Drucktechnikerin prüft in einer Druckwerkstatt einen Bogen mit holografischem Muster.","caption":"Die koreanische Münz- und Sicherheitsdruckgesellschaft beteiligt sich als zuständige Stelle für Echtheitsprüfungstechnik am staatlichen K-Brand-Zertifizierungsprogramm.","description":null}}}],"published_at":"2026-09-24T16:37:33+09:00","updated_at":"2026-09-24T16:37:33+09:00","license":"cc_by","translation_status":"reviewed","available_locales":["ko","en","ja","es"],"data_locales":["ko","en","ja","es","id","pt","zh-hant","de"],"url":"https://injoys.com/en/articles/komsco-revenue-6386-growth-drivers"}