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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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[Graphic News] 77% of young Koreans still financially dependent
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Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
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[Pressure points] Leggings in public: Fashion statement or social faux pas?
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Yoo Jae-suk, Yoo Yeon-seok team up in 'Whenever Possible'
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Korea’s homegrown nanosatellite successfully launches into space
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Aging population to drive down Korea's housing prices from 2040: experts
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Consortiums led by information technology service giants Kakao Corp. and KT Corp. won a preliminary license to launch South Korea's first Internet-only bank Sunday, the financial regulator said, opening the new business market in the long-slumping banking industry.
The Financial Services Commission said it gave approval to Kakao Bank and K-Bank after a two-month review of their qualifications, including their financial stability, shareholdings structure and customer service plan. It had accepted applications from three bidders, including I-Bank led by online shopping mall operator Interpark Corp. on Oct. 1.
An Internet-only bank, or a direct bank, is a bank that offers financial services online without brick-and-mortar locations. Such banking emerged in the 1990s with the advent of online banking technology. (Yonhap)
The Financial Services Commission said it gave approval to Kakao Bank and K-Bank after a two-month review of their qualifications, including their financial stability, shareholdings structure and customer service plan. It had accepted applications from three bidders, including I-Bank led by online shopping mall operator Interpark Corp. on Oct. 1.
An Internet-only bank, or a direct bank, is a bank that offers financial services online without brick-and-mortar locations. Such banking emerged in the 1990s with the advent of online banking technology. (Yonhap)
