Kona I will acquire all of U.S. card manufacturer ProtechSecureCard (PSC) for about $20.1 million, or 28 billion won, through Kona America Holdings, a U.S. holding company it plans to establish. The transaction is expected to close by the end of this month, after the board approved a $22 million, or 30 billion won, capital injection into the holding company on the 31st of last month. Remaining funds will support working capital. PSC produces EMV chip cards, which follow a global payments-card standard, and provides card personalization services through its U.S. facilities, sales organization and customer network. Kona I plans to use those assets to reach small and midsize banks, cross-sell PVC and premium metal cards, and combine its chip and operating-system technology with PSC's manufacturing infrastructure. It also plans to apply its Chip On Board (COB) chips to PSC's production process, linking local card sales with chip revenue. The U.S. manufacturing base could help Kona I respond to tariffs and other trade-policy changes, while further capacity expansion will depend on PVC and metal-card orders and tariff policy. Kona I entered the premium metal-card market in 2018, sold more than 7 million units last year and says it holds about one-third of the global metal veneer market. Chairman Cho Jung-il said the acquisition removes physical distance from U.S. customers and opens access to small and midsize banks, adding that Kona I will use the deal to raise its U.S. presence.