Kia invests 10 billion KRW in 'BankSalad' to develop mobility × financial services

Extensive Technical Collaboration on Vehicle Data Open Platform and Connected Cars

[Asia Economy Reporter Yu Je-hoon] Kia is investing 10 billion KRW in the fintech company 'BankSalad,' which operates data-driven asset management services, establishing a cooperative relationship.

Kia announced on the 9th that it decided to invest in BankSalad with synergy effects in mind, such as building a data platform in the mobility sector. The investment amount is 10 billion KRW.

BankSalad is a representative MyData specialized company that introduced Korea's first data-driven asset management service. Since launching its application in 2017, BankSalad has surpassed 8.8 million cumulative downloads and 410 trillion KRW in linked management assets within four years.

MyData is a concept that defines the subject of various information such as finance, healthcare, and telecommunications as 'individuals' rather than companies. Through the right to request personal information transmission, individuals can freely view, process, and analyze their scattered information and use MyData service providers to manage it integrally.

Taking this investment as an opportunity, the two companies will engage in extensive technological cooperation for the mobility industry, including vehicle data open platforms and connected cars, establishing a strategic business partnership. Furthermore, through this, they will explore cooperation methods across all aspects of automotive life, such as automobile insurance services utilizing MyData, and jointly develop innovative services combining mobility and finance.

A Kia official stated, "We decided to make a strategic investment in BankSalad, which has strengths in developing and operating data-driven services," adding, "Through cooperation between the two companies, we will create multifaceted business synergies and accelerate the transformation into a company that provides innovative mobility solutions."

This content was produced with the assistance of AI translation services.