▲ A Seoul office of Kakao Bank, a South Korean internet-only bank (Yonhap)

SEOUL, July 31 (Yonhap) -- Unionized workers at internet-only Kakao Bank launched a full-scale strike Friday over wage increases and other benefits, its union said.

The labor union and Kakao Bank's management have been in negotiations over a pay raise and other benefits but failed to narrow differences.

According to the union, over 700 unionized workers participated in the one-day strike but did not hold a rally.

"We are discussing our future actions," the union said.

In the first quarter of the year, Kakao Bank logged an operating income of 211 billion won (US$143 million) on revenue of 1.94 trillion won, both quarterly highs.

Its parent Kakao Corp. also has been mired in a labor dispute as wage negotiations between management and labor have been deadlocked for the past two months.

Kakao's unionized members staged a partial strike in early June.

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