Jade Group will enter into Vietnam market through its affiliated company, Hanaro K-M. Hanaro K.M. is a company that produces the highest-quality eco-friendly engine oil and is conducting tests for engine oil injection rental project in the Vietnamese market, which is injecting engine oil in plastic bottles into motorcycles.
Jade Group plans to expand its simple payment business by providing users with 10% discount when paying engine oil with digital currency instead of widely used cash in the Vietnamese market. The 10% discount will be supported by Hanaro K.M., and the simple payment system and membership service will be serviced by Croad Int'l.
Vietnam has 50 million motorcycles replacing engine oil every two months. Currently, 1L plastic containers are being used causing serious environmental pollution problems. In order to overcome the problem, Hanaro K.M. plans to introduce a gas pumpl and a new payment system to Vietnam to provide eco-friendly and high-quality engine oil.
Choi In-jun, CEO of Hanaro K.M., said, "The local distributors are paying full attention. The actual operation service via the agents will be initiated starting from November