Wallets/k-bank-korea
K Bank Korea
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Overview
K Bank Korea is South Korea's #2 internet bank + 15.5M users end-2025 + 18M customer target + Upbit crypto exchange deposit dependence + planning lifestyle-integrated services combining finance and commerce with Musinsa 1, 2, Korea, Republic of report. 2025 baseline: K Bank 15.5M users end-2025 + 18M customer target + Upbit crypto exchange deposit dependence reduced from over 50% in 2021 to 20% in 2025; K Bank net profit decline 2025 due to increased interest expenses following hike in fees for deposits from crypto exchange Upbit (fee rate for Upbit deposits increased from 0.1% to 2.1% post-Virtual Asset User Protection Act July 2024) distinctive Korean internet banking + crypto exchange dependence challenge; K Bank planning lifestyle-integrated services combining finance and commerce with Musinsa distinctive Korean internet banking + Korean fashion commerce platform partnership.
Distinctive K Bank positioning:
- South Korea's #2 internet bank (K bank; KT Corporation + Woori Bank + Hanwha Life Insurance + others investors)
- 15.5M users end-2025 distinctive Korean internet banking scale
- 18M customer target distinctive Korean internet banking growth ambition
- Upbit crypto exchange deposit dependence distinctive Korean internet banking + crypto exchange partnership
- Planning lifestyle-integrated services combining finance and commerce with Musinsa distinctive Korean internet banking + Korean fashion commerce platform partnership
- K Bank net profit decline 2025 due to increased interest expenses following hike in fees for deposits from crypto exchange Upbit distinctive Korean internet banking + crypto exchange dependence challenge
- Apr 3 2017 K bank Korea launch as South Korea's first internet bank distinctive Korean internet banking pioneer heritage (one month before KakaoBank)
- Expanding platform business + entering individual business owner and SME market distinctive Korean internet banking SME + platform expansion strategy
History
Apr 3 2017 — K bank Korea launch as South Korea's first internet bank distinctive Korean internet banking pioneer heritage (one month before KakaoBank Jul 27 2017 launch).
Jul 2024 — Virtual Asset User Protection Act fee rate for Upbit deposits increased from 0.1% to 2.1% distinctive Korean internet banking + crypto exchange dependence challenge.
2021 — K Bank Upbit crypto exchange deposit dependence over 50%.
End-2025 — K Bank 15.5M users + Upbit crypto exchange deposit dependence reduced from over 50% in 2021 to 20% in 2025 + K Bank net profit decline 2025 due to increased interest expenses following hike in fees for deposits from crypto exchange Upbit + K Bank planning lifestyle-integrated services combining finance and commerce with Musinsa + 18M customer target 1, 2, 3.
Ownership & operator
Operating entity: K bank (South Korean internet bank; KT Corporation + Woori Bank + Hanwha Life Insurance + others investors).
Major shareholders: KT Corporation (KRX: 030200; South Korean telecom) + Woori Bank (KRX: 316140; Woori Financial Group) + Hanwha Life Insurance + GS Retail + KG Inicis + DGB Capital + others investors.
Regulators: FSC (Financial Services Commission Korea) + FSS (Financial Supervisory Service Korea) + BoK (Bank of Korea).
Technical integration
K Bank mobile banking app (iOS + Android; 15.5M users end-2025) + kbanknow.com online + K Bank Visa + Mastercard cards; KFTC + Zero Pay KR + BoK CBDC (partial); K Bank Upbit crypto exchange deposit integration (Upbit crypto exchange deposit dependence reduced from over 50% in 2021 to 20% in 2025) distinctive Korean internet banking + crypto exchange partnership + K Bank planning lifestyle-integrated services combining finance and commerce with Musinsa distinctive Korean internet banking + Korean fashion commerce platform partnership + Expanding platform business + entering individual business owner and SME market distinctive Korean internet banking SME + platform expansion strategy.
Users & growth
End-2025: K Bank 15.5M users + 18M customer target + Upbit crypto exchange deposit dependence reduced from over 50% in 2021 to 20% in 2025; K Bank net profit decline 2025 due to increased interest expenses following hike in fees for deposits from crypto exchange Upbit (fee rate for Upbit deposits increased from 0.1% to 2.1% post-Virtual Asset User Protection Act July 2024).
Use cases
South Korean retail + private + SME + commercial + crypto exchange deposit + lifestyle-integrated services + Musinsa partnership banking via K Bank mobile + kbanknow.com online + Visa/Mastercard cards; KFTC + Zero Pay KR + BoK CBDC (partial); K Bank Upbit crypto exchange deposit integration (Upbit crypto exchange deposit dependence reduced from over 50% in 2021 to 20% in 2025) distinctive Korean internet banking + crypto exchange partnership + K Bank planning lifestyle-integrated services combining finance and commerce with Musinsa distinctive Korean internet banking + Korean fashion commerce platform partnership + Expanding platform business + entering individual business owner and SME market distinctive Korean internet banking SME + platform expansion strategy.
Implementations & partners
Operator: K bank (South Korean internet bank; KT Corporation + Woori Bank + Hanwha Life Insurance + others investors); KT Corporation (KRX: 030200; South Korean telecom) + Woori Bank (KRX: 316140; Woori Financial Group) + Hanwha Life Insurance + GS Retail + KG Inicis + DGB Capital + others investors.
Upbit crypto exchange partnership: K Bank Upbit crypto exchange deposit integration (Upbit crypto exchange deposit dependence reduced from over 50% in 2021 to 20% in 2025) distinctive Korean internet banking + crypto exchange partnership.
Musinsa lifestyle-commerce partnership: K Bank planning lifestyle-integrated services combining finance and commerce with Musinsa distinctive Korean internet banking + Korean fashion commerce platform partnership.
Major Korean internet bank + commercial bank competitors: KakaoBank (KakaoBank; KRX: 323410; South Korea's largest internet bank; 26.7M users end-2025; ₩480.3B (~$315.5M) net profit 2025 +9.1% YoY; best performance on record + 1.82M new users) + Toss Bank (Toss Bank; South Korean internet bank under Viva Republica; 12M+ users end-2025) + Toss (Toss / Viva Republica; South Korean super-app) + KB Kookmin Bank (KB Kookmin Bank; KRX: 105560; KB Financial Group; South Korea's largest commercial bank by assets) + Shinhan Bank (SOL Bank + SOL Global) (Shinhan Bank; KRX: 055550; Shinhan Financial Group) + Hana Bank (KEB Hana / Hana Won-Q + Hana EZ) (Hana Bank; KRX: 086790; Hana Financial Group) + Woori Bank (Woori WON Banking + Woori WON Wallet) (Woori Bank; KRX: 316140; Woori Financial Group; K Bank Korea ~14% shareholder) + NongHyup Bank (NH Bank) / NH콕뱅크 (NH CoK Bank) (NongHyup Bank) + Industrial Bank of Korea (i-ONE Bank Personal + i-ONE Bank Global) (Industrial Bank of Korea; KRX: 024110; 17M retail + 2.2M corporate customers + Sep 1 2025 i-ONE Bank Personal complete overhaul).
Regulators: FSC + FSS + BoK.
Fun facts
- South Korea's #2 internet bank (K bank; KT Corporation + Woori Bank + Hanwha Life Insurance + others investors).
- 15.5M users end-2025 distinctive Korean internet banking scale.
- 18M customer target distinctive Korean internet banking growth ambition.
- Upbit crypto exchange deposit dependence distinctive Korean internet banking + crypto exchange partnership.
- Planning lifestyle-integrated services combining finance and commerce with Musinsa distinctive Korean internet banking + Korean fashion commerce platform partnership.
- K Bank net profit decline 2025 due to increased interest expenses following hike in fees for deposits from crypto exchange Upbit (fee rate for Upbit deposits increased from 0.1% to 2.1% post-Virtual Asset User Protection Act July 2024) distinctive Korean internet banking + crypto exchange dependence challenge.
- Apr 3 2017 K bank Korea launch as South Korea's first internet bank distinctive Korean internet banking pioneer heritage (one month before KakaoBank).
- Expanding platform business + entering individual business owner and SME market distinctive Korean internet banking SME + platform expansion strategy.
Comparison
| Feature | K Bank Korea | KakaoBank (KakaoBank rival; South Korea's largest internet bank; 26.7M users end-2025) | Toss Bank (Toss Bank rival; South Korean internet bank under Viva Republica; 12M+ users end-2025) | KB Kookmin Bank (KB Kookmin Bank rival; South Korea's largest commercial bank by assets) | Industrial Bank of Korea (i-ONE Bank Personal + i-ONE Bank Global) (Industrial Bank of Korea rival; 17M retail + 2.2M corporate customers) |
|---|---|---|---|---|---|
| Operator | K bank (South Korean internet bank; KT Corporation + Woori Bank + Hanwha Life Insurance + others investors) | KakaoBank (KRX: 323410; South Korea's largest internet bank) | Toss Bank (South Korean internet bank under Viva Republica) | KB Kookmin Bank (KRX: 105560; KB Financial Group; South Korea's largest commercial bank by assets) | Industrial Bank of Korea (KRX: 024110; South Korean state-owned commercial bank since 1961) |
| Type | South Korea's #2 internet bank + 15.5M users end-2025 + 18M customer target + Upbit crypto exchange deposit dependence reduced from over 50% in 2021 to 20% in 2025 + K Bank net profit decline 2025 due to increased interest expenses following hike in fees for deposits from crypto exchange Upbit + K Bank planning lifestyle-integrated services combining finance and commerce with Musinsa + Expanding platform business + entering individual business owner and SME market | South Korea's largest internet bank + 26.7M users end-2025 + ₩480.3B (~$315.5M) net profit 2025 +9.1% YoY + best performance on record + 1.82M new users + 2026 stablecoin services + AI/global push 30M users target | South Korean internet bank under Viva Republica + 12M+ users end-2025 | South Korea's largest commercial bank by assets | South Korean state-owned commercial bank + 17M retail + 2.2M corporate customers + Sep 1 2025 i-ONE Bank Personal complete overhaul |
| Country | KR | KR | KR | KR + 11 countries | KR + US + CN + JP + IN + VN + ID + MM + KH + RU + GB + DE + PH |
| Distinctive | Apr 3 2017 K bank Korea launch as South Korea's first internet bank (one month before KakaoBank Jul 27 2017 launch); 2021 K Bank Upbit crypto exchange deposit dependence over 50%; Jul 2024 Virtual Asset User Protection Act fee rate for Upbit deposits increased from 0.1% to 2.1%; End-2025 15.5M users + Upbit dependence reduced to 20% + K Bank planning lifestyle-integrated services with Musinsa + 18M customer target | 2017 KakaoBank founding as internet bank by Kakao Corporation; Aug 6 2021 KRX IPO under ticker 323410 | 2021 Toss Bank Korea launch under Viva Republica | 1963 KB Kookmin Bank founding | 1961 IBK Industrial Bank of Korea founding (South Korean state-owned commercial bank) |
Status
Active, South Korea's #2 internet bank + 15.5M users end-2025 + 18M customer target + Upbit crypto exchange deposit dependence reduced from over 50% in 2021 to 20% in 2025 + K Bank planning lifestyle-integrated services combining finance and commerce with Musinsa 1, 2, 3:
- K bank (South Korean internet bank; KT Corporation + Woori Bank + Hanwha Life Insurance + others investors) since Apr 3 2017 K bank Korea launch as South Korea's first internet bank + 2021 K Bank Upbit crypto exchange deposit dependence over 50% + Jul 2024 Virtual Asset User Protection Act fee rate for Upbit deposits increased from 0.1% to 2.1% + End-2025 K Bank 15.5M users + Upbit dependence reduced to 20%.
- K Bank 15.5M users end-2025 + 18M customer target.
- K Bank planning lifestyle-integrated services combining finance and commerce with Musinsa.
- FSC + FSS + BoK regulated.
Sources
- 1 South Korea's Internet Banks Post Mixed 2025 Results: KakaoBank Hits Record Profit, K Bank Stumbles on Upbit Dependence — BigGo Finance
- 2 Korea Internet Bank 2026: Why K Bank Lost the Race — Seoulz
- 3 KakaoBank Targets 30 Million Users via AI, Global Push — Seoul Economic Daily
- Korea, Republic of report In-corpus:
reports/countries/KR-korea.md
Source
Biography extracted from k-bank-korea.md. See matrix.md for standards-support matrix if present.