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The Korea Herald
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THE INVESTOR
March 29, 2024

Finance

Internet bank consortium completes 2nd capital increase

  • PUBLISHED :November 10, 2016 - 18:23
  • UPDATED :November 10, 2016 - 18:23
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[THE INVESTOR] Korea Kakao, a consortium for internet-only bank KakaoBank, said on Nov. 10 that it has increased its capital by issuing new stocks worth 200 billion won ($US173.60 million).

Korea Investment Holdings, an investment firm, poured 116 billion won for obtaining new stocks while mobile messenger firm Kakao and Kookmin Bank invested 30 billion won. Five participants of the consortium for the internet bank, including game company Netmarble Games, Seoul Guarantee Insurance, a guarantee service provider, and postal service firm Korea Post, invested 8 billion won. Yes24 also made a 4-billion-won investment. 




Kona I, an IC chipmaker which participated in the first round of paid-in capital increase, did not take part in the latest capital increase while its forfeited stocks were acquired by Korea Investment Holdings.

An official from the KakaoBank consortium said the group will apply for final approval for the establishment of the internet-only bank by the end of this year.

Korea Kakao is one of the two groups that have received preliminary permission from the government to set up the nation’s first internet-only bank.

By Kim Young-won (wone0102@heraldcorp.com)

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