Kakao Bank Archives | Be Korea-savvy
S. Korean Internet Banks Vying to Lure More Deposits

S. Korean Internet Banks Vying to Lure More Deposits

SEOUL, Sept. 15 (Korea Bizwire) — South Korean internet-only banks are ramping up efforts to attract more deposits in the wake of a newcomer’s entry into the fast-growing sector, industry sources said Wednesday. The heated race comes as the latecomer, Toss Bank, has begun receiving applications from customers even before its official launch scheduled for [...]

Kakao Bank Becomes Most Valuable Financial Firm in S. Korea on Stock Market Debut

Kakao Bank Becomes Most Valuable Financial Firm in S. Korea on Stock Market Debut

SEOUL, Aug. 6 (Korea Bizwire) — South Korean internet-only bank Kakao Bank Corp. made a splash in its stock market debut Friday, emerging as the country’s most valuable financial firm. After a weak start, shares of the online bank made steady gains throughout the session. It capped the first day at 69,800 won (US$61), soaring [...]

Kakao Bank’s IPO Subscription Draws Lukewarm Response from Retail Investors

Kakao Bank’s IPO Subscription Draws Lukewarm Response from Retail Investors

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 [...]

Internet Banks Under Fire for Failing to Meet Their Original Purpose

Internet Banks Under Fire for Failing to Meet Their Original Purpose

SEOUL, Nov. 13 (Korea Bizwire) — South Korea’s internet banks, including Kakao Bank, are being blamed for failing to meet their original purpose of establishment despite the South Korean financial regulator’s strong desire and support in anticipation of innovation. During the parliamentary audit of the Financial Services Commission (FSC) held last month, Kakao Bank faced [...]

Online Lender Kakao Bank’s Q1 Net Almost Triples

Online Lender Kakao Bank’s Q1 Net Almost Triples

SEOUL, May 6 (Korea Bizwire) — South Korea’s top internet-only lender Kakao Bank said Wednesday its first-quarter net profit nearly tripled due mainly to increased interest income. Net profit came to 18.5 billion won (US$15.2 million) in the January-March period, up about 181 percent from a year earlier, the lender said in a regulatory filing. [...]

Regulator OKs Upping Kakao’s Stake in Internet Bank

Regulator OKs Upping Kakao’s Stake in Internet Bank

SEOUL, Jul. 24 (Korea Bizwire) — Kakao Corp., the operator of South Korea’s leading messenger app Kakao Talk, got a nod from the country’s financial regulator Wednesday to raise its stake in the Internet-only bank Kakao Bank. Kakao Bank, the country’s second Internet-only bank, began operations in July 2017 and quickly gained popularity among local [...]

Kakao Bank’s Accounts Surpass 10 mln 2 Years After Launch

Kakao Bank’s Accounts Surpass 10 mln 2 Years After Launch

SEOUL, Jul. 12 (Korea Bizwire) — Kakao Bank, South Korea’s second Internet-only bank, said Friday it has attracted more than 10 million accounts in about two years since launching operations. Kakao Bank, controlled by Kakao Corp., the operator of South Korea’s dominant messaging app KakaoTalk, started operations on July 27, 2017, quickly gaining popularity among [...]

Two Years On, Internet-only Banks Bring About Changes to Financial Sector

Two Years On, Internet-only Banks Bring About Changes to Financial Sector

SEOUL, Apr. 5 (Korea Bizwire) — In the two years since the launch of the country’s first Internet-only bank, South Korea’s banking sector has moved towards digitalization to better satisfy customers’ growing appetite for convenient and diverse financial experiences. As new Internet-only banks get ready to set sail next year, competition in the industry is [...]