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.
National Pension Service’s (NPS) recent invitation for investment proposals to domestic private equity and venture capital funds, which amounts to 650 billion won ($577 million), has met with a lukewarm response from fund houses, amid concerns about the $500 billion&hellip
Korea Investment Corporation (KIC) Chief Investment Officer Shinwoo Kang will give a keynote speech in a global real estate and infrastructure summit on Oct. 25 in Seoul, where key investment decision-makers of South Korea’s biggest asset owners are set to&hellip
Asia-based investment firm Pacific Alliance Group (PAG) has bought an office building in southern Seoul from a fund led by the Public Officials Benefit Association (POBA) for around 310 billion won ($273 million), at a time when the growing nuclear&hellip