Hyphen

What Hyphen does

Hyphen Corporation (하이픈코퍼레이션) is a Seoul-based fintech company that operates one of South Korea's largest corporate banking infrastructure platforms, spun off from KSNET in 2022. The company holds the #1 position in South Korea's corporate banking (firm banking) market with a 68.8% share, connecting approximately 700+ enterprise clients to 31+ financial institutions through a proprietary network of 860 dedicated leased lines that enables secure 24/7/365 financial transactions without OTP tokens or digital certificates. Its core offerings include Hyphen Firm Banking (corporate banking with real-time ERP integration), Hyphen CMS (treasury management with approval workflows), BankingPlus (SMB payment collection and disbursement), and an API Marketplace listing 1,000+ APIs across financial data, government documents, payment processing, delivery platforms, and corporate analysis.

Underlying technology includes a proprietary API gateway with OAuth 2.0 authentication, a real-time ERP intermediary module, dedicated leased line infrastructure with Fraud Detection System (FDS), and an ISMS-certified security architecture. The platform processes 200M+ financial transactions monthly, supports 20+ payment methods including credit cards, account transfers, virtual accounts, mobile payments, gift certificates, and convenience payment instruments, and integrates with government data sources (Government24, HomeTax, National Pension, Health Insurance, Supreme Court Registry) as well as major Korean delivery platforms (Coupang Eats, Baemin, Yogiyo).

The company generates revenue through per-transaction fees on firm banking services, monthly API marketplace subscriptions (TR Slim at KRW 110,000/month prepaid and TR Signature at KRW 300,000+/month post-pay with committed quotas), BizMoney prepaid API credits, and PG (payment gateway) transaction fees ranging from 1.30% to 2.70% on credit cards plus KRW 300 per transaction. Go-to-market combines enterprise field sales for large financial institutions and conglomerates with a self-service developer API marketplace supported by a free test bed (100 requests/day), a partner recruitment program (partners.hyphen.im), and an affiliated family-company distribution network including KSNET (280,000 merchants), Payletter, Third Eye Systems, and Infotech Corporation. Notable customers span fintech (Toss, Naver), insurance carriers (Hanwha Life, KB Insurance, Chubb), telecoms (SK Telecom, KT), credit card issuers (Shinhan, Hyundai, BC, Lotte), conglomerates (Hyundai Motor, Lotte, Doosan), and government-linked corporations (Korea Railroad Corporation, Korea Water Resources Corporation).

Name

Hyphen

Legal name

주식회사 하이픈코퍼레이션

Website

https://hyphen.im

Company type

Private

Founded year

2022

Operating status

Operating

Short description

Hyphen Corporation is a Seoul-based fintech operating South Korea's #1 corporate banking infrastructure platform, connecting 700+ enterprise clients to 31+ banks via 860 dedicated leased lines, and offering an API marketplace with 1,000+ financial, government, and payment APIs.

Ownership category

akta.pro rank

Product category

Corporate Banking & Financial API Platform

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518210)

SIC

Finance Services (6199), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB)

akta.pro secondary industries

Account & Balance Services (Operating accounts, statements, eBAM) (FSABAIAD), Reconciliation, Ledgering & Money Movement Ops (Sub-ledgers, Settlement, Reporting) (FSAGALAL), Technology, Software & IT Services (FSABACAJ)

Keywords

• Corporate banking services
• API marketplace
• Payment processing
• Treasury management
• Financial data APIs

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Infrastructure, Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Firm Banking (펌뱅킹) Transaction & Service Fees: Hyphen generates recurring revenue from enterprise clients using its firm banking services. Fees are derived from per-transaction charges for fund transfers, automatic payments, virtual accounts, electronic bills, and FX transactions. Approximately 700+ enterprise clients use this service.
2. API Marketplace Membership (TR Slim): Monthly membership subscription at KRW 110,000 (VAT included) for access to Hyphen's API catalog. Members prepay BizMoney to cover per-call API charges at standard rates. TR Slim requires no contract and offers immediate access.
3. API Marketplace Membership (TR Signature): Monthly base subscription starting at KRW 300,000+ providing a committed API usage quota with post-pay invoicing. Requires contract and consultant support. Targeted at high-volume enterprise API consumers.
4. Simple Payment Processing (간편결제): Revenue from processing prepaid electronic payments via Hyphen Pay, including transaction fees on card-present and card-not-present transactions. Hyphen Money balance serves as the payment instrument.
5. PG (Payment Gateway) Fees: Commission revenue from electronic payment gateway services. Fee structure includes per-transaction charges: credit card fees ranging from 1.30% to 2.70% depending on merchant annual volume, KRW 300 per transaction, account transfer at 2.00% (min KRW 200), and mobile payment at 2.50% to 5.00%.
6. BizMoney (Prepaid API Credits): Hyphen issues BizMoney — prepaid API credits that members purchase and consume against API usage. BizMoney minimum充值 is KRW 20,000. Unused BizMoney can be refunded; earned BizMoney from promotions cannot.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Hyphen Corporation operates a financial technology platform providing enterprise corporate banking (firm banking) services via 860 dedicated leased lines connecting to 31+ Korean financial institutions, an API marketplace offering 1,000+ APIs across financial, government, tax, and business data categories, and a simple payment service including Hyphen Pay prepaid electronic payment instrument. The platform enables automated ERP integration, real-time fund transfers, account verification, electronic tax filings, and unified payment acceptance for large enterprises and small merchants in South Korea.

Product overview

Hyphen operates a multi-faceted platform comprising three core pillars: (1) Firm Banking services including Hyphen Firm Banking (integrated enterprise banking with 860 dedicated lines connecting to 20+ Korean banks), Hyphen CMS (cash management with approval workflows), and BankingPlus (small business treasury solution); (2) an API Marketplace with 138+ products and 1000+ APIs spanning payment processing (PG, card simple payment, account simple payment, ARS authentication), government document APIs (HomeTax, Government24), financial information (securities accounts, company analysis with AI), and delivery platform integrations (Coupang Eats, Yogiyo, Baemin); and (3) a Simple Payment service (Hyphen Pay) supporting prepaid charging, points, coupons, and stamps. The company also offers specialized packages for tax filing, loans, corporate funding, and franchise management.

Differentiator

Problem solved

Functional benefit

Brands

• 하이픈 펌뱅킹: Enterprise banking service connecting corporate and bank systems safely
• 하이픈 CMS
• 뱅킹플러스
• 하이픈 API마켓
• 하이픈페이
• 하이픈 딜리버리
• 하이픈 CA패키지
• 하이픈 선불

Products and services

• Hyphen Firm Banking (펌뱅킹) Enterprise banking service that securely connects company and bank systems through dedicated lines, enabling fund transfers, automatic payments, transaction history, virtual accounts, balance inquiries, and real-time ERP integration without separate security procedures. Used by 700+ enterprises in South Korea.
• Hyphen CMS (Cash Management System) Integrated treasury management solution built on firm banking that provides approval workflows, real-time monitoring dashboards, and scheduled fund collection features to prevent embezzlement and financial accidents for corporate treasury operations.
• Hyphen API Marketplace Self-service API marketplace offering 1,000+ APIs across financial, government, tax, insurance, business data, payment, and delivery platform integrations. Supports OAuth 2.0 authentication, free test bed (100 requests/day and 100/month), and two pricing tiers (TR Slim prepaid, TR Signature post-pay).
• BankingPlus (뱅킹플러스) All-in-one solution for small business owners, academies, rental companies, and online shopping malls for collection, settlement, refunds, and payroll. Enables recurring billing, auto-transfer services, and payment processing without separate bank contracts.
• Hyphen Pay (하이픈페이) Prepaid electronic payment service (Hyphen Money) with features including account recharge via bank transfer, card, or phone payment; point accumulation; coupon issuance; stamp programs; and automatic recharge services for consumer-facing merchants.
• Electronic Payment Gateway (PG / 전자결제) Online payment gateway supporting credit cards, bank transfers, virtual accounts, mobile payments, gift certificates, Samsung Pay, and various convenience payment methods with unified API integration and integrated receipt printing.
• 1-Won Authentication (1원 인증) Account verification service that transfers 1 won to verify account ownership, enabling contactless identity confirmation for virtual currency exchanges, fintech platforms, and financial institutions requiring real-name verification. Free for registered Hyphen firm banking clients.
• Account Holder Lookup / FCS Account Authentication API service that verifies account holder names and account validity using account numbers and birthdates/business registration numbers, enabling pre-verification for fund transfers, refunds, and account validation in e-commerce and fintech applications.
• Card Simple Payment (카드간편결제) Credit card-based simple payment service allowing customers to register their card once and pay conveniently using a payment password for real-time transactions, with branded integration options and enhanced customer lock-in.
• Account Simple Payment (계좌간편결제) Account-based simple payment service where customers register an account once and pay using a payment password, offering lower costs than PG/VAN services with D+1 settlement and 24/7 monitoring.
• ARS Authentication (ARS 인증) Non-contact identity verification and transfer consent service using ARS phone recording, enabling remote customer verification and payment authorization for insurance companies, card issuers, and fintech applications.
• Withdrawal Transfer Agency (출금이체 대행) Service enabling companies to collect funds from multiple customer accounts into their corporate account without separate bank contracts or internet banking, supporting scheduled batch transfers.
• Deposit Transfer (입금이체/송금대행) Service allowing companies to deposit funds into Hyphen's virtual account and disburse payments to multiple customer accounts, supporting real-time and batch transfer modes for salary, insurance, settlements, and refunds.
• SENDA Overseas Settlement (해외정산) Global payment remittance API powered by SentBe, offering international transfers to 173+ countries at 70%+ lower fees than banks with real-time status tracking and next-day delivery to most destinations.
• Prepaid/Point Service (선불/포인트) Prepaid payment service allowing members to charge funds and use at partner stores, with APIs for membership management, point accrual, coupon issuance, and stamp programs. Supports account withdrawal, card payment, and mobile payment charging methods.
• Company Analysis (SearchGuru / 기업분석) AI-powered enterprise analysis service providing investment information and financial statement analysis in 3 seconds, including stock valuation predictions, company reports, ownership structures, and financial analysis reports with automated insight generation.
• HomeTax Income Information (홈택스 소득정보) APIs for retrieving income certificates, tax payment certificates, and various tax-related documents from HomeTax system, including year-end tax settlement data, income statements, and tax credit information for loan applications and credit assessments.
• HomeTax Certificate/Query (홈택스 증명/조회) APIs for issuing and querying various certificates from HomeTax including income statements, tax payment certificates, VAT certificates, standard financial statements, and year-end tax settlement simplification data.
• Personal Account Securities Inquiry (개인계좌 증권사 조회) APIs enabling users to view all securities accounts, balances, transaction history, holdings, and asset transaction details across multiple securities firms through scraping-based integration.
• Shared Kitchen Package (공유주방 패키지) Bundled APIs for shared kitchen and delivery-based food tech businesses, providing order/delivery integration, delivery status tracking, and sales analytics from Coupang Eats, Yogiyo, Baemin, and ViberWorks platforms.
• Hyphen Delivery (하이픈 딜리버리) Last-mile delivery API connecting to approximately 100 delivery agencies nationwide through standardized API integration, enabling delivery rider dispatch and tracking through single API connection.
• Delivery App Order History & Reviews (배달앱 주문내역 및 리뷰) APIs for retrieving order history and reviews from major delivery platforms including Baemin, Yogiyo, Coupang Eats, and Naver reviews, enabling franchise management and sales analysis.
• Card Company Approval Inquiry (카드사 승인내역 조회) APIs for merchant information lookup, approval history, acquisition details, and deposit records from credit card companies for ERP, business management, and tax services.

Quantifiable outcome

• 68.8% domestic corporate banking market share, ranking #1 in South Korea
• +5 more outcomes

Named customers40 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration41 records

AI capability2 records

Feature7 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• Third Eye Systems (써드아이시스템)minorGTM or Marketing Partner · 30 May 2022Third Eye Systems, a Naver Cloud Platform consulting specialist, partnered with Hyphen to promote Naver Cloud credit programs (up to KRW 3 million in credits) to Hyphen customers. Third Eye Systems provides direct consulting visits to recommend suitable Naver Cloud products and facilitates credit allocation to Hyphen API marketplace users.
• IGAWORKS (아이지에이웍스)coreStrategic or Co-development Partner · 14 February 2022IGAWORKS, a big data analytics company with 35 million digital customer profiles, partnered with Hyphen to combine card terminal, POS, credit card, and simple payment data from Hyphen's merchant network with IGAWORKS' consumer analytics capabilities. The partnership aims to launch data-based new businesses supporting micro-merchants and self-employed businesses, focusing on consumer spending prediction, industry-specific consumption analysis, and regional trade area analysis.
• KSNET (케이에스넷)coreTechnology or IntegrationKSNET is Hyphen's longest-standing strategic partner with 28 years of combined experience in comprehensive payment services. KSNET provides Hyphen with access to its nationwide merchant network of 280,000 affiliated stores and serves as the outsourced information systems operator for Hyphen's banking connections. Hyphen was spun off from KSNET. KSNET also operates as the payment processor and settlement infrastructure provider.
• National Tax Service (국세청)coreTechnology or IntegrationHyphen's API marketplace provides access to National Tax Service (국세청) APIs including business registration certificates, VAT tax base certificates, income tax receipts, cash receipt issuance records, corporate income tax filings, and electronic tax invoice aggregated data. These are sourced via scraping/integration with HomeTax (홈택스) government portal.
• All Korean Banks (전 은행)coreTechnology or IntegrationHyphen connects to 31+ Korean financial institutions including Kookmin Bank, Shinhan Bank, Woori Bank, KB Kookmin Bank, Nonghyup Bank, Hana Bank, Citibank Korea, Industrial Bank of Korea, and others via 860 dedicated leased lines. Services include account transfers, virtual accounts, balance inquiries, and account holder verification.
• Infotech Corporation (인포텍코퍼레이션)minorImplementation/ SI/ Consulting PartnerInfotech Corporation provides scraping services for government documents (Government24, HomeTax, Internet Registry, National Police Agency) as a subcontracted data processing provider. Also listed as a family company.
• Financial Resolution Services (금융결제원)coreTechnology or IntegrationThe Korean Financial Network (금융결제원) provides account holder verification, payment account registration, fund transfer, and 1-won authentication services to Hyphen's payment platforms. Core infrastructure partner for payment authorization.

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• KG Inicis (KG이니시스): Major Korean PG/payment gateway serving e-commerce and SMB merchants with credit card, bank transfer, virtual account, and mobile payment processing. Competes head-to-head with Hyphen in PG fees and simple-payment service.
• MX Technologies: US financial data API and connectivity platform serving banks, fintechs, and credit unions with account aggregation, verification, and money movement APIs. Closest US analogue to Hyphen's enterprise banking-data + payment API stack.
• NICE Payments (나이스페이): One of Korea's largest payment gateways, offering PG acquiring across credit cards, bank transfers, and mobile wallets to merchants of all sizes. Directly competes with Hyphen's electronic payment and simple payment offerings on fee structure and merchant base.
• Plaid: US-based financial data connectivity platform offering APIs that aggregate bank account, transaction, and identity data for developers. Closest international analogue to Hyphen's API marketplace and bank-connectivity model, scaled to thousands of fintech apps.
• TrueLayer: UK open-banking API platform providing account information, payments initiation, and identity verification to fintechs and merchants. Comparable to Hyphen in product architecture (API-first access to bank rails) and developer go-to-market.
• KSNET (케이에스넷): Korean payment infrastructure provider from which Hyphen was spun off. Operates the same dedicated-line banking network, 280,000 affiliated merchants, and 28-year payment heritage; the two entities share ownership family ties (Payletter, KSNET, Third Eye Systems, Infotech Corporation).
• Tink (by Visa): Europe-based open banking platform acquired by Visa, providing PSD2-compliant account access, payments, and financial data APIs. Most direct international functional comparable to Hyphen's API marketplace in regulated banking-data aggregation.

Broad incumbents

• Toss (토스): Korean fintech super-app offering consumer payments, banking, brokerage, and an expanding B2B stack. Toss is also a Hyphen firm-banking customer, illustrating the line between customer and competitor as Toss moves upmarket into SMB and corporate banking.
• Kakao Pay (카카오페이): Korean mobile payment and digital wallet service integrated with KakaoTalk. Competes with Hyphen Pay and Hyphen's PG offering on consumer payment methods and is increasingly extending into SMB merchant acquiring.

Emerging players

• Modern Treasury: US payment operations platform offering APIs for bank payments, reconciliation, and treasury workflows to enterprises. Comparable to Hyphen CMS and firm banking on the treasury-management / ERP-integration axis, though focused on US banks rather than Korean financial infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hyphencorp

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hyphen