The race to receive the license to become South Korea’s fourth internet-only bank is growing fiercer, with four bidders announcing their will to contend. There are currently three online lenders in Korea: KBank, Kakao Bank and Toss Bank. But four new contenders Soso Bank, Korea Credit Data Bank, and the U-Bank and Douzone Bank consortiums have lined up to compete for the fourth license. In line with the l.
Four startups - Lendit, Lunit, Jobis & Villains and Travel Wallet - as well as Hyundai Marine & Fire Insurance jointly formed the U-Bank Consortium earlier this week, aiming to become the country s fourth internet-only bank. So far, there are three internet-only banks in Korea: Kbank, KakaoBank and Toss Bank.