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Finance

KakaoBank launches KOSPI200-linked ELB fund offering 7.4 percent annual return if conditions met

KakaoBank has launched an equity-linked bond (ELB) fund whose returns depend on moves in the KOSPI200 index. The product checks the index every three months and redeems early if the index is not below its initial level, paying returns based on an annual rate of 7.4 percent for the holding period. If the index falls, the investment continues and can run for up to three years. The fund is not covered by deposit protection.

Finance

KakaoBank to suspend financial transactions for 7 hours early Oct. 18; card payments, ATM use limited

KakaoBank will suspend financial transaction services for about 7 hours early on Oct. 18 due to scheduled maintenance of its computer systems. During the outage, account inquiries and transfers will be unavailable, and domestic and overseas check card payments and CD and ATM deposits and withdrawals will be restricted. Alerts for deposits, withdrawals and card payments will also be halted, along with customer service and related processing.

Finance

KakaoBank launches \'The Check Card\' with daily benefit selection

KakaoBank on Tuesday launched \'KakaoBank The Check Card,\' a debit card that lets customers choose card benefits each day based on spending plans. Users can select either 0.5 percent cashback at domestic merchants or 5 percent cashback at selected lifestyle brands and year-end tax settlement-related categories, with no prior-month spending or minimum payment requirements. Cashback is capped at 20,000 won per month and 1,000 won per day, and the current benefits run through June 30, 2027.