PayExpress has exchanged a memorandum of understanding (MOU) with Baidu Innovation Center Shenyang in China to boost business cooperation. Baidu Innovation Center is a corporate support place operated in China’s 10 cities by Baidu, China’s tech giant.

Under the MOU, the two companies will cooperate to provide such support services as sales, marketing, finance and technology for enterprises wishing to enter the Chinese market.

“PayExpress has been doing its utmost to graft blockchain onto 10 or so industries like tourism, culture, distribution, energy, finance and shopping. Our latest MOU will enable us to exploit blockchain technology in global money transfer, payment, calculation and integrated mileage,” PayExpress CEO Kim Jae-hyang said.

Jeon Hyung-seok, who is leading Baidu Innovation Center Shenyang, said, “The innovation center houses Wanghong studios and Taobao malls to help companies involved in bio, pharmaceuticals, health, cosmetics, robots, chemicals and daily necessities increase sales,” adding that “we expect cooperation with PayExpress to promote new convergence technology and business synergy in blockchain-based distribution, finance and tourism.” /jms@decenter.kr

James Jung