Imagine being handed a map of a city you ve never visited before. At first, you may feel lost and overwhelmed, unsure of where to start. That experience is akin to what senior citizens in Korea experience as they try to adjust to digitalization, especially in the financial sector.
Low- and medium- credit borrowers are finding it increasingly hard to find a line of credit, as internet-only banks opt to extend loans to their high-credit peers, market watchers said Tuesday.
Korean banks' offshore expansion drive gathers pace koreatimes.co.kr - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from koreatimes.co.kr Daily Mail and Mail on Sunday newspapers.
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.