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Hecto Financial Unveils Revolutionary Solution for Cross-Border Transactions

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3 years ago

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SEOUL, South Korea, Feb. 28, 2024 /PRNewswire/ — Navigating the complexities of cross-border transactions is no longer a headache for businesses exploring opportunities in Korea, thanks to Hecto Financial’s groundbreaking Master Account Management Solution(MAMS). This innovative platform promises to revolutionize the way overseas businesses manage their finances in Korea, eliminating the need for separate bank accounts and streamlining the entire payment process.

Effortless 3-in-One Settlement Solution

Hecto Financial’s MAMS offers a comprehensive 3-in-One settlement solution, enabling businesses to manage receivables, payables, and foreign exchange seamlessly. Unlike the traditional method involving three different banks – one for Korea, one as an intermediary, and one in the home country – Hecto Financial’s MAMS simplifies the process by consolidating all functions into its own platform. Clients only need to obtain access to Hecto Financial’s MAMS to handle pay-ins and pay-outs with local Korean partners. MAMS prioritizes user experience, offering a clear one-page overview of payables and receivables. The dedicated team also promptly responds to timely requests throughout the funds’ processing, ensuring a smooth financial journey.

Lower FX Cost Burdens

The payments received are carefully matched with the expenses for specific local Korean partners who exclusively deal in KRW. This balancing act, called “netting” or “offsetting” happens exclusively within the Hecto Financial’s MAMS platform. After handling all the required settlements in KRW, any remaining funds are adeptly converted into the desired currency, mostly in USD, aligning with the preferred currency of the foreign business entity. By diminishing the amount to be converted into a foreign currency upon completing the payment process in Korea, fluctuations in foreign exchange will no longer pose a significant burden for foreign entities.

Beyond Borders: Legal and Tax Advantages

One of the standout features of Hecto Financial’s MAMS is its ability to overcome legal hurdles. Companies do not need to have their physical presence in Korea. Nor do they need to open a bank account tied to a Korean bank. As there is no business activity taking place by a company situated in Korea, there is no legal requirement to pay any corporate taxes or report on transactions to Korean financial authorities. This game-changing approach not only ensures easy compliance but also allows foreign businesses to flourish without the burden of added handling costs.

Innovative Thinking Backed by Experience

With over two decades of experience in the virtual account domain, Hecto Financial is a frontrunner in Korea in this regard. Trusted by numerous B2B clients, including Kakao Pay, Naver Pay, and Coupay, the top three simple pay service providers, as well as major government organizations, Hecto Financial has established a solid reputation. The substantial volume of funds processed annually through Hecto Financial’s virtual account scheme amounts to around KRW 50 trillion (approximately USD 37.5 billion), and even reaching up to KRW 200 trillion (USD 150 billion) when intermediary processing amounts are factored in.

Secure Collaborations with Regulatory Approval

Hecto Financial’s semi-banking activities are officially endorsed by the Korean government, as evidenced by its possession of the requisite license to offer electronic financial transaction services. Hecto Financial has solidified its position through individual contracts with 21 different local banks in Korea. This extensive network is the key that enables users to process their remittances to and from any bank seamlessly, all through a single unified platform. Besides, Hecto Financial’s MAMS platform ensures safety and security of international fund transfers through FX processing with a reputable global bank.

Rising Interest from Industry Giants

Hecto Financial has already garnered notable attention, drawing in distinguished participants from various industries. Among them are industry giants like a leading provider of short-form video content, a prominent platform facilitating overseas direct purchases, and a digital distribution platform specializing in video games. These insightful participants found Hecto Financial’s MAMS having a lucrative business potential as it offers the best way to maximize their sales profit while optimizing cost reduction. With no upfront costs for creating the MAMS, minimal fees for FX conversion, no need for a branch office establishment in Korea, no tax obligation, no compliance hassles, the benefits far surpass expectations. Consequently, the list of esteemed partners continues to grow, promising exciting collaborations on the horizon.

Hecto Financial’s MAMS stands as a testament to the company’s unwavering commitment to simplifying cross-border transactions for businesses operating in Korea. With its innovative approach and extensive experience, Hecto Financial has positioned itself as a reliable partner for foreign businesses looking to thrive in the vibrant Korean market.

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SOURCE Hecto Financial

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Agoda Unveils South Korean Travelers’ Top Domestic and International Destinations for Chuseok Holiday

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September 6, 2026

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– Fukuoka, Tokyo, Osaka, Da Nang, and Nha Trang topped overseas destinations, while Jeju, Busan, Seoul, Sokcho, and Gyeongju led domestic hotspots  

SEOUL, South Korea, Sept. 6, 2026 /PRNewswire/ — With the Chuseok holiday around the corner, South Korean travelers are already making plans to make the most of the four-day break. According to digital travel platform Agoda, accommodation searches for international and domestic destinations have increased by 38% and 160%, respectively, compared to two weeks before the holiday period.

Based on accommodation searches made by South Korean travelers between May to mid-August 2026, Agoda found that Japanese destinations dominated the list of the most-searched overseas destinations for the Chuseok holiday. Fukuoka ranked first, followed by Tokyo and Osaka. Beyond Japan, Vietnamese destinations also proved popular, with Da Nang and Nha Trang rounding out the top five. The findings highlight South Korean travelers’ continued preference for short- and mid-haul destinations, where they can enjoy a combination of cultural experiences and seaside leisure.

Due to its proximity to South Korea with an average flight time of just 1.5 hours from Seoul, Fukuoka is one of the most accessible Japanese destinations for South Korean travelers. The destination is expected to become even more accessible with Eastar Jet’s expanded services on the Incheon–Fukuoka route through October 24, and the Busan–Fukuoka route from August 29 to October 24, covering the Chuseok holiday period.

For those making travel plans closer to home, Jeju ranked as the most-searched domestic destination, with a 131% increase in travel interest, followed by Busan (147%), Seoul (64%), Sokcho (324%), and Gyeongju (222%). Sokcho, which recorded the strongest growth in search interest among the top 5 domestic destinations, saw tourism expenditure by South Korean travelers increase by 8.2% year-on-year in the first half of 2026, according to the Korea Tourism Organization. The high growth in interest in Sokcho’, driven by its diverse mix of mountains, beaches, lakes, culinary experiences and cultural attractions, suggests that the destination could see continued visitor demand through the second half of the year, including during the Chuseok holiday period.

Gyeongju, which ranked fifth, continues to attract South Korean travelers with its historic sites and rich cultural heritage. The city’s appeal could be further boosted by expanded KTX and KTX-Eum services scheduled to begin in September, offering travelers improved rail connectivity during the autumn travel season.

Alex Park, Country Director, South Korea at Agoda shared, “As the Chuseok holiday approaches, South Korean travelers are showing strong interest in nearby destinations, with domestic travel seeing particularly strong demand. As a global travel platform, Agoda is committed to supporting travelers with diverse preferences by offering great deals on flights, accommodation, and activities, whether they are looking to explore destinations overseas or closer to home.”

As South Korean travelers finalize their Chuseok holiday plans, Agoda continues to offer a seamless booking experience across more than six million holiday properties, 130,000 flight routes, and 300,000 activities worldwide. To find the best deals for autumn travel to Asia and beyond, visit Agoda.com or download the Agoda mobile app. As part of Agoda’s August Mega Sale, travelers can enjoy up to 60% off on hotel bookings during the main sale through 31 August.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/agoda-unveils-south-korean-travelers-top-domestic-and-international-destinations-for-chuseok-holiday-302867025.html

SOURCE Agoda

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TECNO Wins Two IFA Global Product Technology Innovation Awards for Modular Phone and Tonino Lamborghini TECNO TAURUS

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4 hours ago

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September 5, 2026

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BERLIN, Sept. 5, 2026 /PRNewswire/ — TECNO, a global AI-driven innovative technology brand, achieved two IFA Global Product Technology Innovation Awards at IFA 2026:

Tonino Lamborghini TECNO TAURUS took the Miniaturized Gaming PC Technology Innovation Gold Award, standing out with its Italian aesthetics and exceptional performance in the compact body. The TECNO Modular Phone was honored with the Ultra-Slim Magnetic Modular Technology Innovation Gold Award, praised for its ultra-slim craftsmanship and unique modular magnetic technology.

These awards once again demonstrate TECNO’s sustained breakthroughs in product innovation and industry-leading craftsmanship in design excellence. The Global Product Technology Innovation Awards were established in 2014 by IDG, IFA, and DIHK to celebrate excellence across the global consumer electronics industry. The awards honor products that set new industry benchmarks and drive innovation through intelligent technology and user-centric design.

TECNO Modular Phone: The World’s Thinnest Modular Smartphone

At just 4.9mm, the TECNO Modular Phone is powered by proprietary Modular Magnetic Interconnection Technology. It combines a precision magnetic array with pogo-pin connectors, offering a flexible ecosystem for different needs. The host retains a 3000–4000mAh battery, while modules draw power directly for a snap-and-go experience. It also resolves the inherent conflict between rising AI computing demands and limited device space.

The technology has earned over 20 accolades from leading media, with CNET and Yanko Design naming it the Best of MWC 2026, and The Verge recognizing it as the Best Mobile Tech at MWC 2026.

Tonino Lamborghini TECNO TAURUS: One of the World’s Smallest Water-Cooling Gaming Mini-PCs

At around 6.36 liters, the panoramic transparent chassis of the Tonino Lamborghini TECNO TAURUS fuses iconic Italian design with raw engineering. Powered by the Intel® Core™ i9-13900HK and NVIDIA® GeForce RTX™ 5060 (614 AI TOPS, 145W TGP, DLSS 4), it achieves the pinnacle of performance, providing a high-fidelity gaming experience and high-efficiency AI workstation. The water-cooling system sustains peak frequencies, while 15 ports and WiFi 6E deliver connectivity. It was recognized with Yanko Design’s Best of MWC award.

In addition, TECNO made waves at IFA with the Next-Gen Bezelless Concept Phone featuring a revolutionary 0mm screen bezel, and the convertible laptop MEGABOOK T15 360 Pro. Relentlessly pushing the boundaries of design, performance, and AI innovation, TECNO is pioneering limitless possibilities for futuristic technology.

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Morpho UV Printer Unveiled at IFA with Hands-On Live Creation

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4 hours ago

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September 5, 2026

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BERLIN, Sept. 5, 2026 /PRNewswire/ — Morpho, a company specializing in UV printing technology, is showcasing its first desktop UV printer at IFA 2026, Hall 17-196. Visitors are observing Morpho’s colorful, textured prints, and some have the opportunity to print on a range of blank materials provided.

Morpho’s desktop UV printer can print on a wide range of materials, including wood, glass, leather, metal, and more, delivering vivid colors and tactile textures for customized results. At IFA 2026, the booth attracted interest from creators, educators, and technology professionals, who gathered to watch live demonstrations.

Among those who have tried Morpho’s printer, three aspects are most frequently highlighted: print quality, the moving gantry design, and overall ease of use.

Visitors are first drawn to the prints, which feature precise color reproduction and finely detailed textile textures. With G7 Master ColorSpace certification, Morpho ensures consistent tones across different pieces. The same level of precision is evident in the raised textures created by the industrial-grade printhead, which builds fine layers of ink for detailed, tactile surfaces. The printhead maintains fast carriage motion speeds of up to 600mm/s while preserving precise detail.

Attendees have also noted the printer’s compact desktop footprint. With its moving gantry architecture—where the entire gantry moves along both axes—the printer offers a large, fully enclosed print chamber that accommodates various objects while remaining desktop-friendly.

First-time users have given positive feedback on Morpho’s usability. The integrated Stereo Vision Smart Alignment™ System quickly captures an object’s height and contours, while Morpho Studio’s guided workflows help users move from idea to print with minimal setup.

Morpho’s team shared that the program has been in development for several years, with the goal of making UV printers a practical tool for everyday creative use. Founder Mingyu “Brett” Wang, formerly Global VP of R&D at DJI, commented, “We communicate directly with our community, listen to feedback, and make fast improvements.”

Ahead of IFA, Morpho’s Kickstarter campaign surpassed $10 million in support from over 2,800 backers worldwide. The company is committed to further developing its proprietary core technology and delivering reliable engineering for creators, makers, and small businesses.

Visit Morpho’s website to learn more.

About Morpho: Morpho develops desktop UV printers that bring industrial-grade printing and coloring to everyday materials, enabling creators to turn almost any physical surface into a canvas for their ideas.

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/morpho-uv-printer-unveiled-at-ifa-with-hands-on-live-creation-302870741.html

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