[Alpha Biz=(Chicago) Reporter Paul Lee] Regarding the recent controversy over "major shareholder Kakao Risk," Kakao Bank said there will be no problem with Kakao Bank's operations.

Kim Seok, chief operating officer (COO) of Kakao Bank, said in a conference call for Kakao Bank's third-quarter earnings announcement on the 8th, "I have no sales concerns or concerns."

Last month, the Financial Supervisory Service's Special Judicial Police on Capital Markets sent some of Kakao's management, Kakao and Kakao Entertainment to the prosecution on charges of manipulating stock prices during the acquisition process of SM Entertainment. If a Kakao corporation is punished with a fine or higher, it could cause problems with its eligibility as a major shareholder of its subsidiary Kakao Bank, which could deprive it of its status as a major shareholder.

Kakao Bank said it will continue to push for new businesses that have been braked by Kakao's legal risks.

Kakao Bank planned to expand its appearance in earnest through MyData business and credit card business from the beginning of the year. However, the Financial Services Commission recently suspended the credit card business licensing review. In May, the Financial Services Commission also suspended the approval of Kakao Bank's MyData and personal alternative credit assessment projects, citing a violation of the Kakao Capital Market Act.

 

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