KB Securities said on April 21 it signed a "business partnership agreement for the operation of an embedded finance business" with SK Planet on April 17 at SK Planet's headquarters in Pangyo, Seongnam, Gyeonggi Province.

The two companies plan to link KB Securities' financial API (application programming interface) to SK Planet's lifestyle platform. They aim to build an environment where users can use financial services without moving to a separate application.

Embedded finance refers to combining a financial company's services within a non-financial platform.

Based on the API linkage, the companies plan to expand cooperation in areas including providing platform-tailored financial services, implementing user-centric investment services and upgrading data-based financial experiences.

Hee-jae Son (손희재), head of KB Securities' Digital Business Group, said, "Through this business partnership, we will broaden touchpoints for financial services and build an environment where customers can access finance more conveniently in their daily lives." He added, "We plan to combine the two companies' technology capabilities and know-how to create a leading model in the embedded finance market."