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Finance

KakaoBank and K Bank team up to develop finance ideas for small businesses

KakaoBank and K Bank will jointly seek ideas for financial products and services for small businesses. The two banks signed an agreement on Aug. 28 to co-host a finance idea contest for business owners, KakaoBank said on Aug. 31. Participants will choose at least 1 of 3 tasks, including marketing to raise awareness of non-face-to-face loans and planning new offerings based on interviews. Total prize money is 34 million won.

Finance

KakaoBank teams up with Seoul to expand financial education for youth

KakaoBank will work with the Seoul city government to expand financial education for teenagers, linking basic everyday finance lessons with training to prevent financial fraud and a finance idea contest. Seoul will run an economy and finance academy from May to September for about 360 youths at 21 municipal youth centers. Additional programs from July will target vulnerable youths, including anti-scam education and one-on-one financial mentoring.