SEOUL, Aug 31 (Reuters) - South Korean fintech company Kakao Pay Corp has cut its planned initial public offering (IPO) target and now aims to raise up to 1.5 trillion won ($1.29 billion) down from the previously announced 1.6 trillion won, the company said on Tuesday. The adjustment from the company backed by Chinese e-commerce company Ant Group follows a Financial Supervisory Service (FSS) request for it to resubmit its IPO registration statement last month. (Reporting by Heekyong Yang and Joyce Lee; Editing by Louise Heavens) Our Standards: The Thomson Reuters Trust Principles.