SEOUL, Sept. 5 (Korea Bizwire) – Kakao Bank, South Korea’s second Internet-only bank, implemented a 500 billion won (US$441.9 million) capital increase on Tuesday as a part of a refinancing plan to bolster its lending business. Kakao Bank, launched in late July with paid-in capital of 300 billion won, has attracted about three million accounts [...]
SEOUL, Aug. 21 (Korea Bizwire) – Security loopholes have been found in the newly launched South Korean internet-only bank Kakao Bank, as a number of cases of identity theft have been reported to the company. According to Kakao Bank on Sunday, up to ten reports were filed after users found out either a bank account [...]
SEOUL, Aug. 17 (Korea Bizwire) – According to a statement released by the National Policy Committee, a report submitted by online-only moneylender Kakao Bank showed that elderly users over the age of 60 were significantly underrepresented in numbers relative to other age groups of users. Since its inauguration on July 27, the online bank has [...]
SEOUL, Aug. 9 (Korea Bizwire) — K-Bank, South Korea’s first Internet-only bank, said Wednesday it has raised its deposit rate, in an apparent bid to fend off its competitor, Kakao Bank. K-Bank increased the rate it offers on a 1-year time deposit by 10 bps to 2.1 percent, compared with 2 percent offered by Kakao [...]
SEOUL, Aug. 1 (Korea Bizwire) — The Internet-only Kakao Bank has succeeded in starting big, gaining over 1 million clients in just five days following its launch, but how the initial clients are using the service suggests there is room for improvement, industry watchers said Tuesday. Kakao Bank outdid four-months-old K-Bank, the country’s first Internet-only [...]
SEOUL, July 31 (Korea Bizwire) – Kakao Bank, South Korea’s second Internet-only bank, said Sunday it has attracted some 800,000 accounts four days since its launch, with combined deposits and loans hovering above 500 billion won (US$445.2 million). The bank said the number of clients came to 826,000 as of 3:00 p.m., with deposits being estimated at 275 billion won. [...]
SEOUL, Jul. 28 (Korea Bizwire) — Kakao Bank, South Korea’s second Internet-only bank, said Friday it attracted over 300,000 accounts during the bank’s first day of operations, far outpacing the growth of its competitor and traditional banks. Kakao Bank, led by Kakao Corp., operator of Korea’s dominant messaging app KakaoTalk, started operations Thursday, in the [...]
SEOUL, Jul. 26 (Korea Bizwire) — South Korea’s second Internet-only bank, Kakao Bank, is set to begin operations Thursday, in the latest move by the government to reinvigorate the nation’s banking sector suffering from weaker growth. The planned launch of Kakao Bank, led by Kakao Corp., operator of Korea’s dominant messaging app KakaoTalk, came after [...]
SEOUL, Jul. 14 (Korea Bizwire) — Convenience stores are emerging as the darling of South Korean lenders that are trying to cope with rising costs amid the fast-changing business environment centered on growth in online and mobile banking services. At the forefront of such a move are Internet-only banks such as K-Bank, which have no [...]
SEOUL, June 27 (Korea Bizwire) – The rapid growth of K Bank is making its rivals nervous, with some bank heads praising the success of Korea’s first internet-only bank as ‘beyond expectations’, and noting that they hope to maintain a good relationship as partners as well as contenders. Speaking to Yonhap News, the heads of major [...]