SEOUL -- When Kakao Bank opened its digital doors in 2017, few expected that South Korea's first online lender would stand shoulder to shoulder with the country's traditional financial giants in just four years.
Upstart Kakao Bank hopes to vault to No. 3 in market value after IPO next month
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Major South Korean lenders Kookmin Bank, logo seen at left, and Shinhan Bank, right, are responding to the rise of digital rival Kakao Bank, center. (Photo by Yuki Kohara)
SEOUL -- When Kakao Bank opened its digital doors in 2017, few expected that South Korea's first online lender would stand shoulder to shoulder with the country's traditional financial giants in just four years.