The nation’s first Internet bank enjoyed high popularity in the first week of its launch.

K bank launched operations on Monday with a launching ceremony in downtown Seoul.
The opening event of the bank, the first primary bank established in the country since 1992, drew participation from Financial Services Commission Chairman Yim Jong-yong, the National Assembly’s National Policy Committee Chairman Lee Jin-bok and KT CEO Hwang Chang-gyu, among others.

The head of the newly-launched bank, Sim Sung-hoon, said K bank will provide services regardless of time and place allowing customers to take care of their banking needs outside the rules set by banks.

Many South Koreans have already created their K bank accounts after being attracted by the around-the-clock banking and other financial services, which will allow them to use the services on their smartphones or ATM machines.

According to the bank, it attracted more than 100-thousand customers in just three days after its launch.

More than 106-thousand savings accounts worth 73 billion won have been opened while more than eight-thousand loan requests worth 41 billion won have been approved. Over 91-thousand debit cards have been issued.

Those in their 30s account for nearly 40 percent of the Internet bank customers. Those in their 40s represent roughly 30 percent. Those in their 20s, 50s and 60s account for 16-point-nine percent, ten-point-nine percent and two percent, respectively.

The most transactions, 31-point-nine percent, were made between 6 p.m. and midnight.
K Bank head Sim said that his bank will focus on operating its service stably through increasing the number of employees to 200 and improving the monitoring and management of the computer system.

Meanwhile, the FSC on Wednesday granted approval to Kakao Bank, the nation’s second Internet-only bank. With the approval, Kakao Bank will likely launch operations as early as June.