KB Kookmin Card-Kakao Pay Join Hands to Enter Overseas Markets Including Southeast Asia

Kookmin Card-Kakao Pay Sign Mutual Cooperation Agreement for Overseas Expansion Including Southeast Asia

[Asia Economy Reporter Yoo Je-hoon] KB Kookmin Card and Kakao Pay have joined hands to enter overseas markets such as Southeast Asia.

KB Kookmin Card announced that on the afternoon of the 15th, it signed a business agreement with Kakao Pay at the Kakao Pay office located in Seongnam-si, Gyeonggi Province, to mutually cooperate in various fields related to joint entry into Southeast Asia and overseas markets.

Through this agreement, the two companies will collaborate in areas such as ▲business feasibility review ▲personnel dispatch ▲joint investment ▲technology transfer for overseas expansion projects including Southeast Asia. KB Kookmin Card and Kakao Pay plan to provide Korea's differentiated 'digital finance + life fusion services' to various countries in Southeast Asia through strategic cooperation in overseas expansion.

KB Kookmin Card is continuously expanding its overseas business by sequentially entering Cambodia, Indonesia, Thailand, and other countries, and is promoting additional entry into Southeast Asian countries for sustained growth after COVID-19.

With the recent increase in digital demand among Southeast Asian people and government policies to expand financial inclusion, the potential for digital finance is highly anticipated. Both parties explained that stable overseas expansion for discovering new revenue is expected through collaboration between KB Kookmin Card, which has accumulated diverse overseas business experience, and Kakao Pay, which possesses proven digital capabilities.

Lee Chang-kwon, CEO of KB Kookmin Card, said, "I am very honored that KB Kookmin Card is declaring a new challenge for global expansion together with Kakao Pay," adding, "We plan to continue various collaborations and attempts for sustainable growth in new overseas markets with Kakao Pay, which has the best digital capabilities."

Shin Won-geun, CEO of Kakao Pay, also said, "I am pleased to be able to enter the Southeast Asian market together with KB Kookmin Card, which has abundant overseas business capabilities," and added, "By collaborating with KB Kookmin Card, which has the highest level of capabilities and know-how in Korea, we will showcase Korea's excellence in digital finance to Southeast Asia."

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