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Finance

Hecto Financial, KakaoBank step up cooperation on account-based payment services

Hecto Financial and KakaoBank will work together to expand account-based payment services and identify new business models. The companies plan to jointly develop next-generation payment services by combining payment infrastructure with platform competitiveness. Hecto Financial said it signed a memorandum of understanding with KakaoBank on May 19 at its headquarters in Seoul. They also plan to form a working-level consultative body to develop specific business models.

Finance

KakaoBank launches \'livelihood account\' protecting 2.5 million won a month

KakaoBank has launched a new account designed to protect minimum living expenses even in the event of seizure. The policy-linked product supports financially vulnerable groups and offers seizure protection for deposits of up to 2.5 million won per month. Customers aged 14 and older can sign up, but the account can be opened at only one financial institution. KakaoBank will provide a 2 percent base interest rate through the end of this year and will run a promotional event tied to sign-ups.

Crypto

Coinone \'Coin Saving\' now available on KakaoBank app

Coinone’s recurring investment service \'Coin Saving\' is now available on the KakaoBank app. Coinone said on May 19 it is working with KakaoBank, its real-name account partner, to offer the service within KakaoBank’s app. Users can set purchase rules and check real-time performance in KakaoBank’s investment tab. The service supports 10 digital assets, with up to 20 plans per user and amounts from 5,000 won to 5 million won per purchase.