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Kakao Bank beefs up banking services for self-employed

All News 11:23 October 27, 2022

By Chung Joo-won

SEOUL, Oct. 27 (Yonhap) -- Kakao Bank, the internet-only bank under mobile platform service provider Kakao Corp., on Thursday said it plans to enhance its banking services for the self-employed business, seeking to expand its customer base.

The lender has posted fast growth with a focus on household banking since its launch of banking operations in 2017.

This image is provided by Kakao Bank on Oct. 27, 2022. (PHOTO NOT FOR SALE) (Yonhap)

This image is provided by Kakao Bank on Oct. 27, 2022. (PHOTO NOT FOR SALE) (Yonhap)

According to the tax agency's data, more than 1 million individuals launch independent businesses every year as of end-2021. As of end-September, loans for individual businesspeople came to 443.1 trillion won.

Kakao Bank is one of the three internet-only banks in South Korea, along with K-Bank and Toss Bank.

In the first half this year, Kakao Bank's net profit stood at 123.8 billion won, up from 204.1 billion won a year ago, according to the firm's regulatory filing.

jwc@yna.co.kr
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