▲ This image is provided by Kakao Bank on Oct. 27, 2022. (PHOTO NOT FOR SALE) (Yonhap)

Kakao Bank-new service

Kakao Bank beefs up banking services for self-employed

By Chung Joo-won

SEOUL, Oct. 27 (Yonhap) -- Kakao Bank, the internet-only bank under mobile platform service provider Kakao Corp., on Thursday said it plans to enhance its banking services for the self-employed business, seeking to expand its customer base.

The lender has posted fast growth with a focus on household banking since its launch of banking operations in 2017.

According to the tax agency's data, more than 1 million individuals launch independent businesses every year as of end-2021. As of end-September, loans for individual businesspeople came to 443.1 trillion won.

Kakao Bank is one of the three internet-only banks in South Korea, along with K-Bank and Toss Bank.

In the first half this year, Kakao Bank's net profit stood at 123.8 billion won, up from 204.1 billion won a year ago, according to the firm's regulatory filing.

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