Modacom Co., Ltd. announced that it expects to receive KRW 8 billion in funding from Galaxia Communications Co., Ltd., GemVax Technology Co., Ltd.

Galaxia Moneytree Co Ltd, formerly Galaxia Communications Co Ltd, is a Korea-based company mainly engaged in the electronic payment business. The Company operates its business through three segments. The Electronic Payment Business segment provides services such as mobile phone micro payment, credit card payment, and account transfer. The Online to Offline (O2O) Business segment issues and operates mobile department store gift certificates, and mobile coupons such as cafes and beauty, and provides prepaid payment services such as convenience store prepaid payment, electronic civil service cash, and convenience store payment. The Other Business segment is engaged in the operation of a mobile financial platform under the name of Money Tree and a video content platform under the name of ppom.