Kakao Bank also plans to charge a single-digit interest rate for loans extended to those with low credit ratings like ones with 8th credit grade. Kakao announced on July 23 that it will launch such financial services starting from July 27, the date when its official service is launched.
First of all, it will lower the overseas remittance commission to one tenth of the level of existing banks. It will levy a commission of 5,000 won for the remittance of less than $5,000, and 10,000 won for the remittance of more than $5,000.
When sending money to Japan, Thailand, and the Philippines, Kakao Bank will charge a commission of only 8,000 won regardless of the amount of remittance. Kakao Bank also intends to offer mid-interest rate loan products for those with low to mid-level credit ratings.
A group of South Korean insurers will invest 69 billion won ($60 million) in 29-year senior debt secured on Australia’s National Archives Preservation Facility in Canberra, attracted to its long maturity, as they are keen to extend asset durations ahead&hellip
The Construction Workers Mutual Aid Association (CWMAA) will acquire a language center building of the University of New South Wales (UNSW) in Sydney for A$71 million ($56 million), jointly with a South Korean insurance company. CWMAA, with $2.8 billion in&hellip
South Korean banks and institutional investors will provide $140 million in syndicated loans to a US gas-fired plant project in Pennsylvania, part of $460 million loans originated by BNP Paribas to build the power plant. Of the $140 million loans,&hellip