1 in 3 Koreans Now Uses Kakao Bank

  • By Kim Eun-jung

    September 24, 2021 10:06

    Kakao Bank has attracted 17.17 million customers in a little over four years since it was founded. That is almost one-third of Korea's population.

    Mature customers spearheaded the recent growth. Almost 50 percent of new accounts in the first eight months of this year were opened by people over 40.

    Customers seem to have been drawn by services such as searches for dormant accounts and uncollected insurance payments and stock accounts. The proportion of Kakao Bank customers over 50 almost doubled from six percent in July of 2017 to 16 percent last month.

    Its "Mini" financial service catering to teenagers also drew 900,000 customers since it was launched last October.

    A staffer said, "We have consolidated our position with one out of every three people in the country using our services."

    By comparison it took the country's top lender KB Kookmin Bank 10 years to attract 16 million customers to its mobile app.

    • Copyright © Chosunilbo & Chosun.com
    Previous Next
    All Headlines Back to Top