S.Korea's Kakao plans to launch digital non-life insurance business in 2021

2021-06-10 13:30:00

Image from KakaoPay's website

KakaoPay, a subsidiary of South Korean Internet giant Kakao Corp., has been approved to prepare and launch a digital non-life insurance business within the year.

The Korea Financial Services Commission said Thursday that it has given preliminary approval to Kakao's insurance business plan, as the firm met the requirements for capital, business plan feasibility and sound management.

digital business KakaoPay South Korea

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