Kakao Bank gets 30 applications for every job

Over 3,000 people applied for 100 experienced worker positions at Kakao Bank, an Internet-based bank slated to open for business in the second half of the year.

The number of applications received by the due date of March 4 amounted to more than 3,000 people, according to Kakao on Friday. The company is planning to hire around 100 experienced employees.

Among applicants, two-thirds are currently working in the finance sector while the rest are mostly information technology engineers.

This was the first open recruitment held by an Internet-based bank. Such a high rate of competition was a surprise, especially since it was for workers with experience, not entry-level applicants.

“Expectations for the Internet bank’s leadership in the finance sector and more horizontal organization of an IT company may have attracted many applicants,” an industry insider said.

Positions were open in 21 categories including IT, loan business, credit scoring system, risk management, big data, information security and cards.

The requirement was five years of work experience, and at least three years of experience had to be related to the position the job seeker applied for. For applicants that used to work in IT companies, some extra points were given in the application process.

Salaries and benefits for the jobs were not disclosed. But the company said they will be competitive within the industry.

“We think a lot of people who dream of new challenges in the finance and IT sectors have applied for the jobs,” a Kakao spokesman said. “We will select innovative talent who can start a new kind of banking business in a differentiated organizational culture.”

The entire hiring process will be finished by the first half of this year.

Currently, about 70 employees are working at Kakao Bank. Once final authorization of the Internet bank business is granted in the latter half of this year, Kakao Bank will be launched with roughly 200 employees.

BY KIM JEE-HEE [kim.jeehee@joongang.co.kr]