“The global AI boom resembles the historical progression from a gold rush to gold infrastructure and then a gold economy. The AI rush has begun and infrastructure is being built. Korea missed leadership at the first two turning points, but still has an opportunity to win in the AI economy.”
CEO Lee Jung-hoon was full of energy when we met at B2EN's Yeongdeungpo headquarters on the 16th. His office was filled with sticky notes, with one wall densely covered in plans for B2EN's future.
Lee said, “Web3 remains promising. Blockchain is breaking down financial borders. The future of payments will evolve beyond faster transfers into financial infrastructure where borders themselves no longer matter.” Within this trend, B2EN aims to connect Web2, Web3 and the real-world stablecoin economy.
B2EN's core businesses include data solutions and consulting. Founded in 2004 as a data consulting company, it listed on KOSDAQ in 2021 and has recently been expanding into artificial intelligence.
Visible progress includes HYPERGLORY, the company's AI RAG platform, obtaining both KTR Mark AI certification and Grade 1 GS software quality certification last December.
A recent change in the largest shareholder has positioned B2EN for business expansion. According to DART, Streji No. 1 Partnership plans to purchase shares from the former shareholder, X-Twins No. 1 Partnership, and related parties.
Drawing on his experience heading business planning at NCSoft, Lee founded a company in 2002. He defined a new “marketing engineer” role combining marketing, data analysis and database engineering, then built vocational training around it.
Binance's choice of KOSDAQ-listed B2EN also reflected confidence in Lee's KAIST network. Having pursued doctoral studies in industrial engineering there, he maintains active relationships across finance and other industries. A presentation specialist, he is working to turn B2EN profitable after three consecutive years of operating losses through last year. Last year's revenue was about KRW 14 billion.
Lee said, “B2EN has recorded operating losses for three years, but those losses were for investment. We plan to establish AI and SI business divisions for an entirely new era.”
B2EN signed a strategic agreement with Binance Pay to develop a marketing platform. It will build the marketing system, connecting merchants through AI and big data and layering on Binance Pay's payment system to create a user-friendly experience.
Binance Pay has handled cumulative payments of USD 250 billion and serves more than 20 million merchants globally, making it one of the world's largest digital asset payment platforms.
The plan enables foreign tourists and non-residents to pay Korean merchants instantly with USD-based stablecoins, reducing currency exchange inconvenience and foreign card fees while improving convenience.
After signing an agreement with fashion company apM Members on the 3rd, B2EN is accelerating expansion into the real economy.
apM Members is an AI-based fashion distribution IT company partnering with major Dongdaemun wholesale mall operators. It provides digital vouchers and memberships to B2B wholesalers in a market visited by more than one million people annually.
Plans include stablecoin payment infrastructure in apM's commercial area, merchant marketing insights from AI payment analysis, joint research on platform data and AI models, and exploration of global fashion distribution data.
B2EN's immediate priority is finding participants who can use the Binance Pay platform, acting as an intermediary linking Web3 with the real economy.
Lee also expressed determination to overcome market undervaluation, describing KOSDAQ's view of data companies as harsh. “We have 21 years of history; few KOSDAQ companies have operated as long. Despite being undervalued, we will create synergies by combining data, AI and stablecoins,” he said.
He added, “B2EN has successfully delivered over 900 data projects in 21 years and spent the past three years developing AI agents to solve problems. This year, we will focus on a platform connecting Web3 and Web2 through our Binance Pay partnership.”
Related coverage: Newsway