KakaoBank Suspends New 'Minus Account' Applications Until Year-End
[Asia Economy Reporter Kiho Sung] Internet-only bank KakaoBank will temporarily suspend new sales of overdraft loans. This appears to be a measure to manage the rapidly increasing household loans.
According to the banking sector on the 30th, KakaoBank decided to halt new applications for overdraft loans for high-credit customers from December 1st to December 31st. This product targets high-credit customers, while loans for middle- and low-credit customers will be maintained to protect actual demand.
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A KakaoBank official explained, "This is a proactive measure to appropriately manage household loans," adding, "Loans for middle-credit customers will remain unchanged."
This content was produced with the assistance of AI translation services.
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