- Enables users to conveniently purchase items via mobile by removing the complex process of entering ID, resident
  registration number, credit card number and authentication code
- Offers a safe means of online/mobile payment through secure transmission of payment-related information to credit card
   companies instead of storing them in the application or server.
- Plans to expand the service to diverse shopping malls including 11st under partnerships with major credit card
   companies like Shinhan Card and Hana SK Card

Seoul, Korea, May 23, 2012 — SK Planet announced today that it launched PayPin, a simple payment service optimized for
 the mobile environment.
 
PayPin is a smartphone application that allows users to conveniently and safely purchase items online with their credit cards
 by entering a password. Customers can download the application at T Store, Google's Play and Apple's App Store regardless
of their mobile service provider or device, and use the service after entering payment information.
 
Users can buy products at online shopping malls by choosing the PayPin menu to activate the application and entering a
preselected password. Unlike the existing payment services like Internet Secure Payment (ISP), PayPin does not involve
a complex process that requires users to enter personal information such as ID, resident registration number, credit card
number and password, as well as authentication codes sent by credit card companies via text messages.
 
In particular, as PayPin supports a wide variety of credit cards, customers no longer need to input user information separately
for each credit card. They can also select their most commonly used credit card as the main card to be used for PayPin purchase.
 
Moreover, PayPin maximized the safety and security of mobile payment by encrypting credit card information to be safely stored
at financial institutions instead of storing the information in the application or server. The service also protects customers
against device theft and loss by blocking the transmission of authentication code for devices reported stolen or lost.
 
SK Planet today opened PayPin service for Shinhan Card customers who buy at 11st, the representative online open
market in Korea, and plans to expand the service to major credit card companies including Hana SK Card, shopping malls
and internet content providers from June.
 
"We expect PayPin to contribute greatly to vitalizing the mobile commerce market as it removes customers' inconveniences
 stemming from complex processes of the existing payment services," said Kim Soo-il, SK Planet's Head of Commerce
Business Unit. "Going forward, we will apply PayPin to more diverse fixed and mobile service markets starting from T Store,
Cyworld, Gifticon and MelOn."
 
Meanwhile, 11st will hold various promotional events for a month starting from June 1 2012. In particular, it will offer billing
discount for customers who purchase items via PayPin at 11st (mobile version) and sell 100 New iPads at discounted price
(KRW 299,000).