<p>The FSC decided to grant a preliminary MyData business license to Kakao Pay on May 12.</p> <p>&nbsp;</p> <p>The authorities decided that Kakao Pay meets the financial, professional and other infrastructure-related requirements needed to operate a MyData business, including a minimum capital of KRW500 million, etc.&nbsp;It is expected that Kakao Pay will apply for a final license approval within May this year.</p> <p>&nbsp;</p> <p>The authorities plan to promptly move along the licensing process for prospective MyData businesses to help improve convenience for financial consumers.</p> <p>&nbsp;</p> <p>* Please refer to the attached PDF for details.</p>