Internet lender Kakao Bank to break into new areas

Kakao Bank will also try to enable its customers to have a new financial experience by launching a range of financial products and services connected to diverse industries such as e-commerce and travel. (The Kakao Pay Corp. application icon on a smartphone arranged at the company's headquarters in Seongnam, South Korea, on Monday, May 24, 2021.)

SEOUL: Kakao Bank, South Korea’s largest Internet-only bank, will seek to expand into new business areas and become the country’s No. 1 financial platform, according to the company’s chief executive officer (CEO).

“Kakao Bank will strive to emerge as the top financial platform and break into such areas as insurance, fund and asset management,” CEO Daniel Yun said at a news conference to mark the lender’s planned initial public offering (IPO).