Surpassed 100 Billion KRW in About 50 Hours After Launch,
With Over 200,000 Cumulative Customers
Preparing to Link Investment Services in the Future
"We Will Expand the Unique 'Investment Context' Experience of KakaoBank"
KakaoBank's investment service 'MMF Box', launched in June, surpassed a cumulative balance of 500 billion KRW just one month after its release.
'MMF Box' exceeded a balance of 100 billion KRW within approximately 50 hours of its launch, and as of the 24th, the cumulative number of customers surpassed 200,000.
'MMF Box' is a 'parking-type investment product' based on a money market fund (MMF), and its key feature is that it allows for free deposits and withdrawals while generating daily profits depending on fund performance. The annualized return for the most recent month was 2.67% as of the 24th. In a market environment with increasing interest rate volatility, it has become a convenient investment option for customers seeking to manage short-term funds with relatively higher returns.
According to the Korea Financial Investment Association, the balance of personal MMFs increased by about 500 billion KRW from 19.5 trillion KRW to 20 trillion KRW between July 1 and July 22. The fact that 500 billion KRW flowed into KakaoBank's MMF Box in just one month is considered unusual even within the personal MMF market.
In particular, the product received strong responses from customers in their 30s and 40s who are highly interested in financial management. By age group, customers in their 30s and 40s accounted for about 60% of the total. This was followed by those in their 50s (19.49%) and those in their 20s (14.45%). The average subscription amount per person was about 3.96 million KRW, and approximately 2,000 customers subscribed with the maximum investment limit of 50 million KRW.
KakaoBank plans to expand its services so that MMF Box users can naturally connect to other investment services through the 'Investment' tab to be launched in the app next year. Through this, the company aims to broaden the investment context so that customers can enjoy a variety of investment experiences through the KakaoBank app alone.
KakaoBank stated, "It seems that many customers chose our service because we were able to reinterpret relatively complex financial products in a simple and approachable way unique to KakaoBank," and added, "We will continue to improve our services so that customers can experience a wide range of investment products through KakaoBank."
Meanwhile, MMF Box is an investment product that is not protected by deposit insurance, carries the risk of principal loss, and past returns do not guarantee future returns. Customers should be aware of these points.
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