[Edaily Reporter Kim Se-yeon ] The number of sole proprietors using KakaoBank Corp.’s banking services ( KakaoBank Corp.(323410)) has surpassed 1.7 million just four years after the service’s launch. The cumulative amount of loans provided to sole proprietors has reached 7 trillion won, and the outstanding loan balance has also exceeded 4 trillion won. Following the expansion of its financial services for sole proprietors, KakaoBank Corp. plans to broaden its business scope into corporate finance.

KakaoBank Corp. announced on the 2nd that the number of sole proprietors using its banking service has surpassed 1.7 million since the service’s launch in November 2022.
The number of actual service users is also on the rise. As of the end of October, the number of monthly active users (MAU) exceeded 1.2 million, and the number of weekly active users (WAU) surpassed 1 million. MAU reached 800,000 within two years of launch and 1 million within three years, and has now grown to 1.2 million this year.
The volume of loans to sole proprietors has also expanded. Over the past four years, KakaoBank Corp. has provided sole proprietors with a cumulative total of approximately 7 trillion won through unsecured loans, guaranteed loans, and real estate-secured loans. As of the end of September, the outstanding balance of loans to sole proprietors exceeded 4 trillion won.
Notably, three out of every five self-employed borrowers were classified as having medium or low credit scores. KakaoBank Corp. explained that it has improved its credit scoring model to reflect the specific characteristics of self-employed individuals, thereby supporting access to loans for those with medium or low credit scores.
Support for financial costs has also been expanded. Since launching guaranteed loans in 2023, KakaoBank Corp. has increased its collaboration with regional credit guarantee foundations, and this year, it finalized interest support agreements with regional credit guarantee foundations nationwide. Through these efforts, the bank stated that it provided financial cost savings totaling 28 billion won via guarantee fee support and cashback, as well as 24 billion won through interest-subsidized guaranteed loans.
In addition to financial products, the bank is expanding services necessary for business operations. KakaoBank Corp. has enabled sole proprietors to open accounts and apply for loans via its mobile app, and has added features such as tax management, verification of policy-based funding, inquiries about government subsidies, and business consulting.
KakaoBank Corp. will also venture into loan refinancing and corporate finance in the future. This month, it plans to launch a refinancing product that allows sole proprietors to switch from loans at other financial institutions to KakaoBank Corp.’s real estate-secured loans. Next year, it plans to expand its business scope into corporate finance by introducing joint lending with Busan Bank.
A KakaoBank Corp. official stated, “We started four years ago with the goal of becoming the financial platform used by the most sole proprietors, and we have grown into a platform used by 1.7 million business owners,” adding, “We will continue to reduce the financial burden on sole proprietors and expand services that help them run their businesses.”