Cash goes digital in North Korea as country embraces online payments, ATMs

Electronic payments appear to be gaining traction in Pyongyang, North Korea, according to a new report. “Globally expanding mobile phone-based electronic payment services are becoming mainstream,” the report said.

2025-08-08

Four contenders vie to become Korea's new internet bank in a struggling market

Four contenders have filed for approval to become Korea's fourth internet-only bank.

2024-04-26

Internet-only banks are neither more competitive nor innovative

Customers of internet banks are switching to commercial banks as traditional banks start introducing financial products with higher interest rates and internet banks lack a full range of services.

2022-08-15

Korean IPOs scuttled as listing madness comes to a fast end

With stocks down and investors feeling burned, initial public offerings (IPO) are being cancelled, delayed and reconsidered.

2022-08-02

Internet-only banks rapidly extend loans to less creditworthy

Internet-only banks are aggressively lending to borrowers with weak credit.

2022-04-07

Kbank reports 16.8-billion-won net profit in the third quarter

Kbank posted 16.8 billion won ($14.3 million) in net profit in the third quarter, raising expectations the internet-only bank may turn to profit this year for the first time ever.

2021-11-02

K bank turns a profit in second quarter, its first ever

K bank is finally making money.

2021-08-03

Toss Bank approved, to open in September

Toss Bank will open in September as it has obtained a license to operate as the country's third internet-only bank, after K bank and KakaoBank.

2021-06-09

Some banks profit from crypto-craze

The amount of money used from bank accounts for cryptocurrency trading was over 64 trillion won ($57.9 billion) in the first quarter of this year, according to a report released by the office of Rep. Kim Byung-wook of the Democratic Party of Korea.

2021-06-01

K bank to issue 1.25 trillion won in new shares

K bank, the first online bank to open in Korea, is issuing 1.25 trillion won ($1.12 billion) worth of new stock.

2021-05-26

korea joongAng daily