# K Bank Korea

> Source: https://docs.barcoder.ai/docs/wallets/k-bank-korea
> research date 2026-05-30 · extracted at 2026-10-07
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [K bank — official](https://www.kbanknow.com/)

## 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** <sup>[1][1], [2][2], [Korea, Republic of report](https://docs.barcoder.ai/docs/payments/KR)</sup>. **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** <sup>[1][1], [2][2], [3][3]</sup>.

## 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](https://docs.barcoder.ai/docs/wallets/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](https://docs.barcoder.ai/docs/wallets/toss-bank) (Toss Bank; South Korean internet bank under Viva Republica; 12M+ users end-2025) + [Toss](https://docs.barcoder.ai/docs/wallets/toss) (Toss / Viva Republica; South Korean super-app) + [KB Kookmin Bank](https://docs.barcoder.ai/docs/wallets/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)](https://docs.barcoder.ai/docs/wallets/shinhan-sol) (Shinhan Bank; KRX: 055550; Shinhan Financial Group) + [Hana Bank (KEB Hana / Hana Won-Q + Hana EZ)](https://docs.barcoder.ai/docs/wallets/hana-bank) (Hana Bank; KRX: 086790; Hana Financial Group) + [Woori Bank (Woori WON Banking + Woori WON Wallet)](https://docs.barcoder.ai/docs/wallets/woori-bank) (Woori Bank; KRX: 316140; Woori Financial Group; K Bank Korea ~14% shareholder) + [NongHyup Bank (NH Bank) / NH콕뱅크 (NH CoK Bank)](https://docs.barcoder.ai/docs/wallets/nonghyup-bank) (NongHyup Bank) + [Industrial Bank of Korea (i-ONE Bank Personal + i-ONE Bank Global)](https://docs.barcoder.ai/docs/wallets/ibk-korea) (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](https://docs.barcoder.ai/docs/wallets/kakaobank) (KakaoBank rival; South Korea's largest internet bank; 26.7M users end-2025) | [Toss Bank](https://docs.barcoder.ai/docs/wallets/toss-bank) (Toss Bank rival; South Korean internet bank under Viva Republica; 12M+ users end-2025) | [KB Kookmin Bank](https://docs.barcoder.ai/docs/wallets/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)](https://docs.barcoder.ai/docs/wallets/ibk-korea) (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** <sup>[1][1], [2][2], [3][3]</sup>:
- **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]: https://finance.biggo.com/news/bB3lTJ0B-x-dxYpbmvnJ "South Korea's Internet Banks Post Mixed 2025 Results: KakaoBank Hits Record Profit, K Bank Stumbles on Upbit Dependence — BigGo Finance"
[2]: https://www.seoulz.com/korea-internet-bank-2026/ "Korea Internet Bank 2026: Why K Bank Lost the Race — Seoulz"
[3]: https://en.sedaily.com/finance/2026/05/03/kakaobank-targets-30-million-users-via-ai-global-push "KakaoBank Targets 30 Million Users via AI, Global Push — Seoul Economic Daily"
[kr-cro]: https://docs.barcoder.ai/docs/payments/KR

- [1] [South Korea's Internet Banks Post Mixed 2025 Results: KakaoBank Hits Record Profit, K Bank Stumbles on Upbit Dependence — BigGo Finance][1]
- [2] [Korea Internet Bank 2026: Why K Bank Lost the Race — Seoulz][2]
- [3] [KakaoBank Targets 30 Million Users via AI, Global Push — Seoul Economic Daily][3]
- <sup>[Korea, Republic of report](https://docs.barcoder.ai/docs/payments/KR)</sup> In-corpus: `reports/countries/KR-korea.md`

## Source

Biography extracted from [k-bank-korea.md](https://docs.barcoder.ai/source/wallets/k-bank-korea). See `matrix.md` for standards-support matrix if present.