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Business Behaviors of Internet-only Banks Same as Those of Commercial Banks: Lawmaker

Business Behaviors of Internet-only Banks Same as Those of Commercial Banks: Lawmaker

SEOUL, Oct. 7 (Korea Bizwire) — Despite being granted various benefits as an incentive for innovation, internet-only banks are operating the same way as traditional commercial banks, relying mainly on loans for those with high credit scores, a lawmaker said Wednesday. During a State Affairs Committee meeting at the National Assembly, Rep. Bae Jin-kyo of [...]

Commercial Banks See Non-face-to-face Loans Rise Steadily

Commercial Banks See Non-face-to-face Loans Rise Steadily

SEOUL, Sept. 23 (Korea Bizwire) — The use of non-face-to-face bank loans that can be applied for simply through several clicks online is on a steady rise. The outstanding balance of non-face-to-face loans at the nation’s 18 commercial banks as of the end of June 2021 totaled 111.8 trillion won (US$94.4 billion), an almost threefold [...]