The competition is so fierce that it is reported that the LG Pay service will stop operating in South Korea on June 30.

CTOnews.com, May 4 (Xinhua) South Korean consumers are increasingly fond of payment services such as Samsung Pay, Apple Pay and Naver Pay, and LG Electronics plans to end its LG Pay service in South Korea on June 30 this year, according to South Korean media Pulse News.

Photo Source: LGCTOnews.com Note: LG launched its LG Pay service in South Korea six years ago, that is, in 2017, and then expanded to many markets such as the United States in 2019.

As a result of the closure of LG's mobile phone business in 2021, LG Pay services also cooled down rapidly, ending operations in the US market in the same year.

Instead of giving up on LG Pay, LG decided to switch to platform-based systems similar to Kakao Pay and Naver Pay, work with several card companies and expand its business to web-based payments. But unfortunately, LG Pay has always been unpopular and does not have a sufficient user base.