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South Korea Grants Kakao, KT-led Groups Online Bank Permits

2015-11-29 16:31:57| Telecom - Topix.net

South Korea gave preliminary approval for two groups -- one from the new economy and another from the old, and both with Chinese partners -- to set up the nation's first Internet-only banks as the government seeks to reinvigorate a sector suffering from slow growth and slim margins. Kakao Corp., operator of Korea's leading messaging app KakaoTalk, and KT Corp., the former government phone monopoly, were chosen from a field of three applications.

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Category:Telecommunications

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