The Meeting of an Internet-Only Bank Used by 25 Million and the Top Retail Securities Firm
A Variety of Services to Be Introduced, Starting with the Kiwoom Securities Stock Account Opening Service, Including Bonds and IRP Products
▲Yoon Ho-young, CEO of Kakao Bank (right), and Eom Ju-seong, CEO of Kiwoom Securities, are taking a commemorative photo after signing a Memorandum of Understanding (MOU) at the Kiwoom Securities headquarters in Yeouido, Yeongdeungpo-gu, Seoul on the 15th. Provided by Kakao Bank.
KakaoBank announced on the 16th that it signed a Memorandum of Understanding (MOU) with Kiwoom Securities on the 15th to strengthen the integration of investment services.
The signing ceremony held at Kiwoom Securities headquarters in Yeouido was attended by Yoon Ho-young, CEO of KakaoBank, and Eom Ju-seong, CEO of Kiwoom Securities.
KakaoBank, an internet-only bank with approximately 25 million customers, has been expanding its investment services such as securities account opening with brokerage firms, domestic and overseas stock investment services, public offering subscription information services, and comparison services for brokerage firm IRP benefits. Kiwoom Securities is a leading retail securities firm that has held the number one market share among domestic individual investors for 20 consecutive years, boasting industry-leading product diversity and customer research capabilities.
Through this agreement, the two companies will establish a strategic partnership that tightly integrates KakaoBank’s platform capabilities with Kiwoom Securities’ investment competitiveness. They plan to enable more users to easily and conveniently access investment services.
KakaoBank plans to launch the 'Kiwoom Securities Stock Account Opening Service,' which can be easily opened within the app by the end of the year, and will also discuss the inclusion of Kiwoom Securities’ bonds and IRP (Individual Retirement Pension) products within investment services such as 'securities financial product investment' and 'IRP benefits comparison.'
Additionally, the partnership scope will be expanded to various products and services, including KakaoBank’s popular 'Partnership Savings' product. Both companies plan to continue collaboration leveraging their respective strengths through joint financial product planning, content exchange, and joint marketing.
Yoon Ho-young, CEO of KakaoBank, said, "This MOU with Kiwoom Securities is expected to elevate KakaoBank’s capabilities as a comprehensive financial platform to the next level," adding, "We will continue to strive to provide differentiated financial services through the KakaoBank app alone."
Eom Ju-seong, CEO of Kiwoom Securities, said, "This collaboration resulted from our efforts to lower the entry barriers to investment experience from the customer’s perspective," and added, "We will continue to focus on making the customer’s investment journey easier and more convenient."
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