Konai
Public Β· 1 known investors
KONA I is a South Korean fintech company that develops smart IC chip operating systems and payment platforms, having built the world's first transit card system in 1998 and serving as a global top-tier smart card provider. It operates payment, decentralized ID, mobility, and blockchain platforms, including EMV prepaid cards and regional/local currency services across Korean municipalities.
Also known as A052400 Β· KONA I Β· KONA I Co., Ltd. Β· Kona I Co.,Ltd. Β· μ½λμμ΄(μ£Ό)
Founders & leadership
Investors Β· 1
Company profile
researched Aug 2026KONA I Co., Ltd. (μ½λμμ΄) is a South Korean company founded in 1998 that develops smart cards and payment platforms. Its product range covers USIM cards, IC chip cards, health cards, national identification cards, payment and electronic money cards, transportation cards, and chip-on-board (COB) assemblies used in smart card manufacturing, sold under the Kona and Mybi brands. Alongside hardware, the company provides system integration and maintenance services, taxi calling with automatic payment, and blockchain platform services.
The company organizes its offering around four platform lines: digital identification (IC chip and smart card based authentication, including MONA), payment (KONA CARD, KONA BIZ, KONA PLATE and community/local-currency services), mobility (taxi hailing and an app-meter infrastructure), and blockchain (its own distributed ledger, a research/marketing platform and a new-commerce platform). KONA PLATE is an API-based platform that lets businesses of varying sizes issue branded prepaid cards and digital wallets built to international standards, and also underpins government-led local currency programs. The company describes itself as having built Korea's first transit card system and launched Asia's first international-standard prepaid payment platform, and reports work with Visa and MasterCard on biometric fingerprint cards as well as exploration of smart city and secure IoT applications.
KONA I is headquartered at the EXCON Venture Tower in Yeouido, Yeongdeungpo-gu, Seoul, and trades on the Korea Stock Exchange as A052400, classified in the semiconductor sector by market data providers.
Founding story
CEO Cho Chung-il (Jeong-Il Cho) left his job in 1997 to start his own company, initially intending to build an electronic cash system for South Korea. When the Asian financial crisis caused banks to collapse, he redirected the technology to public transport payments despite heavy upfront investment, a pivot the company credits for its early success.
Business model
KONA I combines manufacturing and supply of smart card chips and cards (chip business) with operation of payment and service platforms. Reported revenue segments are split by line and geography: chip business in Korea, Asia, Africa, the Americas and Europe; domestic platform business; domestic financial business; and other/new business lines. Platform revenue is tied to payment volume and membership on services such as KONA CARD and municipal local-currency programs, while the KONA PLATE API platform is offered to corporate clients that wish to launch their own prepaid card and wallet services.
Sales of IC chips, USIM and smart cards to financial, telecom and ID customers; system integration and maintenance contracts; operation of payment, local currency, mobility and blockchain platforms; and platform/API provision to businesses issuing their own prepaid cards and wallets.
Traction
The company reports payment platform membership of 16 million as of December 2025 and cumulative domestic platform transaction volume for 2025 measured in trillions of won. The KONA CARD Android app has over 1 million downloads. Segment revenue for fiscal 2024 included KRW 81.17B from the Americas chip business, KRW 62.93B domestic chip, KRW 43.27B domestic platform, KRW 17.98B Asia chip and KRW 15.84B Africa/other chip. Headcount is reported at 354.
Latest developments
In June 2026 the company authorized a share buyback plan, and on 13 August 2026 it reported earnings for the second quarter and six months ended 30 June 2026. Development areas highlighted by management include biometric fingerprint cards with Visa and Mastercard, blockchain applications beyond cryptocurrency, and smart city and secure IoT solutions.
βΈFull profile β market position, technology, go-to-market, geography, history, risks & controversies
Market position
The company positions itself as the operator of Korea's largest local community payment platform and the country's largest credit card manufacturer, and as an early mover in transit payment infrastructure and international-standard prepaid platforms in Asia. Coverage cites more than 16 million users of its payment platform in South Korea.
KONA I combines in-house chip operating system and smart card manufacturing with the operation of its own payment, identity, mobility and blockchain platforms, giving it end-to-end coverage from silicon to consumer application. It holds product and field certifications from Visa, Mastercard, JCB and American Express, claims Korea's first transit card system and Asia's first international-standard prepaid platform, and offers open-API platform issuance (KONA PLATE) plus biometric card development with major card networks.
Technology
IC chip and smart card technology, including a Java-based chip operating system built to international standards; digital identity and authentication platforms; EMV-compatible prepaid card issuance with certifications from Visa, Mastercard, JCB and American Express; biometric fingerprint cards with embedded electronic signatures; app-meter and taxi dispatch infrastructure; and a proprietary blockchain/distributed ledger for privacy-preserving services.
Go-to-market
The company sells directly to enterprise, financial, telecom and government clients, and distributes consumer services through the KONA CARD mobile app (over 1 million downloads on Google Play) with top-up and ATM withdrawal at CU convenience stores. It partners with card networks such as Visa and Mastercard and supplies chips and cards through export channels to multiple countries, while local-currency contracts with Korean municipalities extend platform reach.
Consumers using prepaid and transit cards (including inbound travellers via KONA CARD TRAVEL K), businesses from startups to large corporations issuing branded payment products, banks and financial institutions, telecom operators, government and municipal bodies running local currency programs, taxi operators and drivers, and public transport authorities.
Geography
Headquartered in Seoul, South Korea, with chip business revenue reported across Asia, the Americas, Africa and Europe in addition to the domestic market, and exports of IC chips and USIMs to multiple countries.
History
Founded in 1998, KONA I began with transit payment infrastructure in Korea. By the early 2000s it pursued international expansion, and when raising capital for overseas infrastructure proved difficult, it shifted toward digital ID technology and a Java-based chip operating system meeting global standards, establishing positions in the finance, telecom and transport sectors. It subsequently added platform businesses in payments, local currency, mobility and blockchain, with KONA PLATE as its more recent platform offering. Cho Jeong-Il has served as a board member since 1998 and as CEO since June 2010.
Risks & controversies
Segment disclosures show volatility across business lines, including a decline in domestic platform revenue from KRW 88.16B in 2023 to KRW 43.27B in 2024 and sharp swings in European chip revenue. Management notes that banks have been hesitant to adopt blockchain because of transparency concerns, and that raising capital for overseas payment infrastructure was historically difficult. Ownership is concentrated, with CEO Jeong-Il Cho holding 34.27% of shares.
Compiled by commissioned research from 6 cited public sources β announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed β not independently audited.
Timeline Β· 5
launches, deals, and filingsKONA I reported earnings results for the second quarter and six months ended June 30, 2026.
Company states collaborations with Visa and Mastercard on fingerprint-enabled biometric payment cards are underway.
KONA PLATE offers open APIs enabling businesses to issue branded prepaid cards and digital wallets to international standards, and powers a government-led local currency system.
Jeong-Il Cho has served as Chief Executive Officer since 27 June 2010; he has been a board member since 28 February 1998.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
βΈResearch sources Β· 6
primary sources listed
- Konaikonai.com Β· web
6 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Konai do?
- KONA I is a listed South Korean smart-card and payment platform company operating card, mobility and blockchain services.
- Who are Konai's investors?
- Konai's investors include Atinum Investment Co. Ltd..