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Naver Financial seen as beneficiary of anti-Google law
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Partnership for innovative financial services
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Kakao Bank, Kakao Pay accelerate IPO schedules
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Kakao Bank, Kakao Pay accelerate IPO schedules
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KakaoPay s plan to set up digital insurer facing setback
Posted : 2021-05-03 15:25
Updated : 2021-05-03 15:27
KakaoPay CEO Ryu Young-joon, left, and Financial Services Commission (FSC) Chairman Eun Sung-soo applaud at the ceremony for the launch of the open banking service in this December 2019 file photo. Courtesy of FSC
By Park Jae-hyuk
KakaoPay is facing difficulties achieving its grand goal of launching an internet-only insurance company in the second half of the year, raising concerns that this could possibly have a negative impact on its planned initial public offering (IPO).
The mobile payment unit of Kakao has yet to receive preliminary approval for the establishment of its digital non-life insurer, after applying Dec. 29.