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Finance
KakaoBank sets mid-to-long-term growth roadmap in motion on record quarterly results
KakaoBank is moving ahead with a mid-to-long-term growth roadmap after posting its best-ever quarterly performance. The company said first-quarter net profit totalled 187.3 billion won, a record for a quarter. It outlined plans to broaden its deposit products, expand AI features, grow lending with tighter risk management and push new businesses including a won-based stablecoin ecosystem. It is also reviewing a capital company acquisition and seeking to monetise overseas operations.
Finance
KakaoBank steps up AI and global expansion, adding payments, investments and stablecoins
KakaoBank said it will shift to an \"AI native bank\" model, using AI and global expansion as twin pillars to move beyond deposit-led growth into payments, investments and pensions. It plans new app sections for investments and payments and will roll out new card products in the second half. It will combine app-based data with a finance-focused large language model and expand conversational interfaces. KakaoBank also formalised plans to enter Mongolia and is reviewing issuance and distribution of a won-based stablecoin, subject to legal and regulatory changes.
Finance
KakaoBank signs joint venture agreement with SCBX to push ahead with Thailand virtual bank
KakaoBank is moving ahead with plans to establish a virtual bank in Thailand after signing a joint venture investment agreement with SCBX. The signing ceremony took place in Bangkok. KakaoBank plans to acquire a 10 percent stake first and later increase it to 24.5 percent, becoming the second-largest shareholder. It will oversee front-end development, with WeBank Technology Services joining as a technology partner.
