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Finance

KakaoBank launches cashback for sole proprietor guarantee loan customers

KakaoBank said on Feb. 9 it will run its “Long-Long Cashback” event for sole proprietor guarantee loan customers. The program refunds up to 100,000 won in interest to new customers who repay diligently for at least six months, paying up to 50,000 won each based on interest paid in the sixth and 11th months. Interest-supported borrowers can combine local government subsidies with the cashback. KakaoBank previously provided 15.8 billion won in interest cashback to about 40,000 customers.

Industry

Samsung SDI, Korea East-West Power sign pact to jointly enter ESS market

Samsung SDI and Korea East-West Power will step up cooperation in the energy storage system business. The companies signed a memorandum of understanding on joint cooperation in global energy development projects at StarPlus Energy in Kokomo, Indiana. Under the agreement, they will jointly develop and invest in energy projects at home and abroad, identify new business models and broaden cooperation, including energy management and operations.

People

S2W appoints former Jarvis & Villains chief Baek Joo-seok as COO

South Korean big data analytics AI company S2W said on Sunday it had hired former Jarvis & Villains head Baek Joo-seok as chief operating officer and vice president to accelerate execution of its mid- to long-term growth strategy after listing and bolster management efficiency. Baek previously led the fintech firm behind tax platform Samjjeomsam, overseeing strategy, organisational operations and external cooperation. He is set to lead strategic planning spanning roadmaps, M&A, investments and IR.