'Toss' Operator Viva Republica Decides to Absorb and Merge Subsidiary Toss Payments

The operator of the mobile financial service 'Toss', Viva Republica, will absorb and merge with its PG (Payment Gateway) subsidiary, Toss Payments.

Viva Republica announced through a public disclosure on the 28th that it has decided to absorb and merge with its 100% owned subsidiary, Toss Payments, to increase management efficiency and strengthen business competitiveness.

This merger will proceed as a small-scale merger without a capital increase. Because Viva Republica owns a 100% stake in Toss Payments, no new shares will be issued, and the merger ratio is 1 to 0. Accordingly, there will be no changes to Viva Republica's management control, governance structure, or capital even after the merger.

The record date for determining shareholders is the upcoming August 11, and after a period for receiving notices of objection from August 11 to 25, a board of directors resolution for approval will be held on August 26. The date of the merger is scheduled for November 30.

A representative from Viva Republica explained, "Since Toss Payments is a wholly-owned subsidiary, the impact on the consolidated financial position will be limited," and added, "We will improve management efficiency and significantly strengthen the competitiveness of our core business based on the integrated organization."