K Bank

K Bank (Hangul: 케이뱅크), is an online bank based in South Korea. Its largest owner is the telecommunications company, KT Corporation.[1]

For other uses, see KBANK.
K Bank
TypePrivate company
IndustryFinancial services
FoundedJanuary 17, 2016 (2016-01-17)
HeadquartersJongno, Seoul,
South Korea
ServicesOnline banking
Mobile banking
Loan and deposit
Debit card
Overseas remittance
OwnerKT Corporation
Number of employees
7201 (2017)
Websitewww.kbanknow.com/ib20/mnu/PBKMAN000000

History

K Bank launched in 2017, when both KT and Kakao were given licenses to launch Internet-only banks in Korea.[2] K Bank was the first to launch, becoming the first new bank to launch in two decades.[3] When it first launched, the bank was able to attract 250,000 new customers in its first two weeks.[4]

Services

Since its launch, the bank has offered the same products as traditional banks from offering debit cards to offer small loans to consumers.[2]

References
  1. "Kakao, KT Surge After South Korea Grants Online Banking Permits". Bloomberg.com. 29 November 2015.
  2. "Internet-only banks should spur financial innovations: The Korea Herald". December 2015.
  3. "Asia: First internet-only banks in South Korea | RFI Global". www.rfigroup.com.
  4. "Kakao Bank Easily Tops K-Bank's Record-Breaking Run".
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