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.
The Military Mutual Aid Association, the Employment Insurance Fund and an unidentified South Korean institutional investor have committed a total of $110 million to LaSalle Investment Management’s 804 million-pound ($1 billion) debt fund focusing on the UK and western Europe.&hellip
Private equity firm KKR & Co. and the Public Officials Benefit Association (POBA) have put two commercial buildings in South Korea up for sale separately, in transactions expected to fetch a combined $1 billion and in what would be KKR’s&hellip
The Public Officials Benefit Association (POBA) will select two to three US private debt fund houses to make senior secured, direct lending of around $150 million to US mid-market companies with sales of $50 million to $1 billion. The amount&hellip