Prospects of the launch of a new online-only bank in South Korea were dampened this week, as major information and communication technology companies retracted their intentions to enter the banking business.

Naver and Interpark — two major Korean ICT firms widely expected to participate — each recently confirmed they will not be seeking a permit to operate an internet-only bank here.

E-commerce operator Interpark said it decided against joining the internet banking business to “focus on its main online shopping business.” Internet portal Naver, which had once considered the possibility, said it will not move to launch an internet-only bank in Korea.

Tagged with:

5 mins ago

46 mins ago

52 mins ago

Your email address will not be published. Required fields are marked *

*

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to “allow cookies” to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click “Accept” below then you are consenting to this.

Close

Tagged: