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Finance
KakaoBank launches auto finance comparison service to compare loans and installment plans from about 70 financial firms
KakaoBank is rolling out an auto finance service that allows customers to compare financing products and benefits needed when buying new or used cars. Users buying a used car can compare KakaoBank’s used-car purchase loan alongside auto loans, used-car installment plans and credit loans offered by about 70 partner financial firms. New-car buyers can input vehicle price, down payment and installment period to check cashback and installment terms by card issuer. KakaoBank plans to add more products and partners.
Finance
Kakao finance posts record results as Bank and Pay expand into corporate, securities and insurance
KakaoBank and KakaoPay posted record results, while Kakao’s financial business broadens beyond lending margins and simple payments into corporate finance, investment, insurance and advertising. KakaoBank is expanding lending and deposits from household customers to sole proprietors, SMEs, corporates and foreign-currency products, while KakaoPay is linking payment users and data to securities and insurance services. The companies also plan to connect KakaoPay Securities’ stock services to KakaoBank’s app in September.
Finance
Why Korea\'s financial sector is rushing to buy capital companies
Competition to acquire capital companies is intensifying in South Korea\'s financial sector. With limited room for growth in household lending and mounting constraints on profit models centered on deposit-to-loan margins, capital firms are emerging as a key route into the non-bank credit market. KakaoBank is pushing to buy Mastern Capital, Hanwha Life has been named preferred bidder for Acuon Capital, and Sh Suhyup Bank is reviewing options as it seeks to broaden its non-bank portfolio.
