[2021 National Audit] Kakao Bank Paid Kakao 8.2 Billion KRW in Brand Usage Fees Over the Past 5 Years

Payment of 1.84 Billion KRW Made by July This Year

[Asia Economy Reporter Jin-ho Kim] Kakao Bank, which has enjoyed promotional benefits through Kakao's popular characters 'Ryan·Peach,' has paid a total of 8.2 billion KRW in brand usage fees over the past five years.

According to data from the Financial Supervisory Service's audit by the National Assembly's Political Affairs Committee on the 7th, Kakao Bank paid Kakao 8.235 billion KRW in brand usage fees over the last five years.

Looking at the annual payments, Kakao Bank paid 222 million KRW in 2017, the year of its launch. This was followed by 1.325 billion KRW in 2018, 2.194 billion KRW in 2019, and 2.654 billion KRW in 2020. This year, up to July, it has paid 1.84 billion KRW.

Comparing the payments at the launch and last year shows a difference of about 12 times. This is analyzed as a significant increase in brand usage fees in line with Kakao Bank's rapid growth over the years.

As of the end of August, Kakao Bank's total number of customers reached 17.17 million, a 17-fold increase compared to 1 million customers at the end of July 2017, when it was launched. Thanks to this, its performance improvement trend continues. Kakao Bank's net profit for the first half of this year reached 115.9 billion KRW, a 156.2% increase compared to the same period last year. Operating profit during the same period also rose 199.7% to 138.8 billion KRW.

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