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South Korea’s First Internet-only Bank Off to a Good Start

South Korea’s First Internet-only Bank Off to a Good Start

SEOUL, April 4 (Korea Bizwire) – Yesterday marked the official launch of South Korea’s very first online-only bank, K Bank, and more than 20,000 new customers have already signed up to open new accounts. On the day the bank launched its service, nearly 15,320 internet-only bank accounts were opened by three in the afternoon, surpassing [...]

Internet Banks to Offer New Kinds of “Interest”

Internet Banks to Offer New Kinds of “Interest”

SEOUL, July 7 (Korea Bizwire) – “What is the use of interest rates if they are already too low? Aren’t you tired of entering long account numbers every time you transfer money?” Kakao Bank, an Internet-only bank, held a presentation to discuss its business model and the future of its services on Wednesday, July 6, at [...]