KakaoBank’ Superbank Share Ownership Marks Korean Bank’ Expansion

South Korean digital bank, Kakaobank, acquired ten percent of Superbank’s shares through new share issuance. In this partnership, KakaoBank will collaborate actively in product development and Superbank services.

Chief Executive Officer KakaoBank, Yun Ho Young, said the strategic investment and collaboration with Superbank has become the first step of KakaoBank’s global business.

Yun added that the collaboration will create the financial future and together with other strategic partners in Southeast Asia, pave the way for the company to build a digital financial technology platform.

“The partnership has become a form of a long-term commitment to create synergy between digital financial technology, which is owned by KakaoBank, and Southeast Asia players,” he added on Tuesday.

Commenting on this, Superbank Executive Director M. Siahaan said the partnership has marked the combination of international-scale skills with Indonesia’s huge potential.

“The partnership will not only strengthen Superbank’s skill but also take the company to be closer with the company’s vision to serve the underbanked people's financial needs, especially the MSMEs and retail customers,” Tigor said.