Kakao Bank eclipses traditional banks to win Korea's 'Best Bank' recognition

Online-only bank Kakao Bank was named the ‘Best Bank’ in South Korea by Asiamoney, a publication on economy and finance of Asia. It is the first time for an internet-only bank to win the award. Asiamoney, which is a sibling of global media Euromoney Institutional Investor, said Kakao Bank has achieved remarkable growth since its launch in 2017, posing threat to the traditional lenders.

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