Kakao Bank, one of South Korea’s first digital only banks, says it has attracted KRW 535 billion ($477 million) worth of business in deposits and loans in just four days since its launch.
South Korea’s banking sector is getting a shake up with two digital-only banks applying for regulatory approval in the second half of this year. According to Financial Services Commission (FSC) chairman Yim Jong-yong; K Bank, led by KT Corporation (formerly Korea Telecom), and Kakao Bank, led by internet company Kakao; plan to apply for approval […]
