Cumulative users of KakaoBank’s deposit products for minor children, the 'Our Child Account' and 'Our Child Savings', have exceeded 800,000 in 10 months since launch.

KakaoBank said on Tuesday that cumulative users of the two products have topped 800,000. Cumulative subscribed accounts for the 'Our Child Account' exceeded 410,000.

In the first half of this year, 210,000 of about 1 million new KakaoBank customers signed up for the 'Our Child Account', it was tallied. That is about 21 percent of all new customers.

The account can be opened in the KakaoBank app without submitting separate documents. If the parent who opened the account sends an invitation link to the other parent, both can jointly manage the child’s account on their own phones. If the child has a phone in their own name, the child can directly check account details.

By age group, 44 percent of enrolled children were 0 to 6 years old, the largest share, followed by elementary school students at 39 percent and middle school students at 17 percent.

Among parent customers, 49 percent were in their 40s, 47 percent were in their 30s or younger, and 4 percent were 50 or older. Among customers managing children’s accounts, mothers accounted for 70 percent.

A KakaoBank official said, "Users are increasing based on a simple sign-up process and communication functions among family members." The official added, "We will continue to expand services that connect parents and children and support children’s financial lives."