Smartphone manufacturer LG has unveiled plans to launch its own mobile payment system dubbed LG Pay.
The firm announced that it has partnered with Shinhan Card and KB Kookmin Card – two of the biggest credit card companies in Korea – to prepare for the launch.
This new service will add to the existing options such as Apple Pay, Android Pay and Samsung Pay, as well as acting as a rival to these services.
South Korean customers of LG can expect to benefit from the firm's contactless payment offering soon, although it has not yet been revealed when the service is expected to launch.
No further details on LG Pay were forthcoming – or information as to whether or not there are any plans to expand the service into additional regions after the initial Korean launch.
According to South Korean wire service Yonhap, LG Pay is expected to be made available on all LG smartphones. This would set it apart from the likes of Apple Pay and Samsung Pay, which are only available on the latest models.
Apple Pay is already available in the US and UK – and has only just launched in Australia for Amex.
Samsung Pay is also on offer in Korea and the US and is scheduled to release in the UK, China, Spain and Australia early next year.