K Bank said on Thursday that a “lifestyle commerce-based financial service” it applied for jointly with Musinsa and Musinsa Payments has been designated an innovative financial service by the Financial Services Commission.
The designation is part of a memorandum of understanding the two companies signed in August last year to pursue lifestyle commerce-based financial innovation.
Based on the designation, the two companies plan to launch a new type of everyday financial service combining finance and commerce by the third quarter of this year.
A K Bank official said, “Through our partnership with Musinsa, a leading lifestyle platform in Korea, we have presented a new financial service model that links finance and commerce.” The official added, “We will continue to work together in various ways to improve customers’ shopping experience and financial convenience at the same time.”
Ji-young Lee
ljy@d-today.co.kr