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.

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