‘K bank’, Korea’s first internet-only bank is officially launched on April 3 for service.
With the launch of the first ever internet-only bank, financial consumers are now able to enjoy more conveneient and innovative banking services at lower costs compared to conventional banks. Moreover, those who were unable to use loans from commercial banks can now get loans easily because K bank will provide mid-interest rate loans worth KRW 500 billion over the next three years for young entrepreneurs, mom and pop store owners, and ordinary financial consumers. The bank’s business scope will be widened to include mortgage loans, payment services, foreign exchange, and fund sales in time.
As FSC Chairman Yim Jong-yong said in his speech at the opening ceremony, the launch of K bank has already brought about a new wave of competition in the banking sector, which will lead to the development of more innovative and more affordable financial services. Plus, more descent jobs will be created in the IT, fintech and financial industry.
Let’s all open our eyes wide and witness how K bank will change the shape of the whole financial industry in the future.
Click the link below to visit K bank’s official website(Korean)
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