Viva Republica to acquire mobile virtual network operator Merchant Korea

Promotional image from Toss Bank announcing Viva Republica's acquisition of Merchant Korea [TOSS]

Viva Republica, operator of internet-only Toss Bank, announced Thursday that it has signed a stock sale contract to acquire 100 percent of Merchant Korea, a mobile virtual network operator that deals in budget phone plans.

Viva Republica aims to update its app so that users can search for and open a budget phone plan using Toss. It will also offer a certification feature that users can avail of in the process of signing up for budget phone plans.

“We want to resolve inconveniences customers who sign up for budget phone plans face and contribute to reducing communication costs,” said Jang Min-young, business strategy leader at Viva Republica.

BY LIM JEONG-WON [lim.jeongwon@joongang.co.kr]