SEOUL, Aug. 3 (Korea Bizwire) — K-Bank, South Korea’s first internet-only bank, said Tuesday it turned a profit for the first time since its inception in the second quarter of the year on robust growth in customers and deposits. Net profit stood at 3.9 billion won (US$3.4 million) in the April-June period, a sharp turnaround [...]
SEOUL, July 28 (Korea Bizwire) — South Korea’s financial authority said Wednesday it plans to expand the ecosystem of the so-called open banking platform by inviting users of fintech services, allowing more people to enjoy simpler financial transactions. South Korea launched the open banking service in 2019, which centers on allowing customers to use any [...]
SEOUL, July 27 (Korea Bizwire) — South Korean internet-only bank Kakao Bank Corp. drew a tepid response from retail investors for its initial public offering (IPO), with deposits for the stock offering at a smaller-than-expected 58.3 trillion won (US$50.5 billion), according to its IPO managers Tuesday. During the two-day subscription, the subscription rate stood at [...]
SEOUL, July 20 (Korea Bizwire) — Kakao Bank, South Korea’s largest internet-only bank, will seek to expand into new business areas and become the country’s No. 1 financial platform, the company’s CEO said Tuesday. “Kakao Bank will strive to emerge as the top financial platform and break into such areas as insurance, fund and asset [...]
SEOUL, July 15 (Korea Bizwire) — The trading volume of South Korea’s gold market soared in the first half this year, largely as pandemic-incurred uncertainties boosted individuals’ demand for safe assets, the local exchange said Thursday. The average daily trading volume of gold in the Korea Exchange (KRX) jumped 19.4 percent on-year to 126.2 kilograms [...]
SEOUL, July 1 (Korea Bizwire) — K-Bank, South Korea’s first internet-only bank, said Thursday its customers and deposits grew sharply in the second quarter of the year amid the coronavirus outbreak. The number of customers stood at 6.19 million as of the end of June, 2.28 million more than three months earlier, the lender said, [...]
SEOUL, June 23 (Korea Bizwire) — South Korea’s overseas financial assets touched a new high last year as investment in advanced economies rose amid stock rallies, central bank data showed Wednesday. As of the end of 2020, the outstanding financial assets invested overseas by South Korean entities came to about US$1.519 trillion, up $207.2 billion [...]
SEOUL, June 23 (Korea Bizwire) — Viva Republica Inc., the operator of popular South Korean financial app Toss, said Wednesday it has raised 460 billion won (US$407.5 million) in its latest funding with a valuation at 8.2 trillion won. The latest funding boosts Viva Republica’s valuation by nearly three times since its previous funding in [...]
SEOUL, June 20 (Korea Bizwire) — Kakao Corp., which operates South Korea’s most popular mobile messenger Kakao Talk, emerged as the country’s fifth-largest conglomerate in terms of market cap on the back of the recent gains from the main bourse, data showed Sunday. The combined market cap of Kakao and its affiliates came to 73.9 [...]
SEOUL, June 16 (Korea Bizwire) – Cryptocurrency exchanges here are removing some coins from their trading platforms as they are bracing for tough regulations on digital currency transactions set to be introduced in September, inducing sharp falls in prices and irking investors, industry sources said Wednesday. At least 11 of 20 certified cryptocurrency exchanges have [...]