South Korea's K Bank targets 85 trillion won assets by 2030

SEOUL, January 08 (AJP) - Choi Woo-hyung, CEO of South Korea's digital lender K Bank, said on Thursday the bank aims to become a “comprehensive digital finance platform” by 2030, targeting 26 million customers and 85 trillion won ($59 billion) in assets.

Choi unveiled the mid- to long-term growth strategy at the bank’s 10th anniversary event.

For this year, K Bank set a goal of reaching 18 million customers, supported by three growth pillars: platform-based services, small and medium-sized enterprise (SME) finance, and the expanded use of artificial intelligence and digital assets.

The bank plans to deploy AI more widely across its operations and enhance its ability to respond to developments in digital assets, including stablecoins, Choi said.

Founded in January 2016, K Bank began operations in April 2017 and has positioned itself as a pioneer in digital-only banking in South Korea. Its products include the country’s first non-face-to-face apartment mortgage loan, launched in 2020, a remote guaranteed loan for sole proprietors introduced in 2022, and a non-face-to-face real estate collateral loan rolled out in 2024.

The bank’s customer base has surpassed 15 million, while assets and annual profits have continued to grow.

Reflecting on the past decade, Choi said the bank had weathered repeated challenges but built a foundation for sustained growth. He added that K Bank would continue to focus on differentiated products and services driven by innovation.