Kakao Bank Archives | Be Korea-savvy
7-Eleven Benefits From Kakao Bank Effect

7-Eleven Benefits From Kakao Bank Effect

SEOUL, Aug. 23 (Korea Bizwire) – With South Korean internet-only financial institution Kakao Bank continuing to enjoy a significant level of attention, business partner 7-Eleven is benefiting from the online bank’s popularity. In the midst of the surging popularity of Kakao Bank that is sweeping the country, 7-Eleven has emerged as the unexpected beneficiary from [...]

K-Bank Raises Deposit Rate to Fend off Kakao Bank

K-Bank Raises Deposit Rate to Fend off Kakao Bank

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 [...]

Kakao Bank Attracts 1.5 Million Accounts in First Week

Kakao Bank Attracts 1.5 Million Accounts in First Week

SEOUL, Aug. 3 (Korea Bizwire) – Kakao Bank, South Korea’s second Internet-only bank, said Thursday it has attracted over 1.5 million accounts during the first week of operation, 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 on July [...]

Kakao Bank’s Usage Yet to Meet Its Size

Kakao Bank’s Usage Yet to Meet Its Size

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 [...]

Kakao Bank Attracts 800,000 Accounts in 4 Days

Kakao Bank Attracts 800,000 Accounts in 4 Days

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. [...]

Kakao Bank Attracts 300,000 Accounts on First Day

Kakao Bank Attracts 300,000 Accounts on First Day

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 [...]

S. Korea’s 2nd Internet-only Bank to Begin Operations Thursday

S. Korea’s 2nd Internet-only Bank to Begin Operations Thursday

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 [...]