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Kakao Corp Bids on Internet-Banking Licenses

The South Korean government is looking to raise the level of South Korea’s capital markets by strengthening the competitiveness of the South Korean exchange market because there has been a lack of growth in the financial sector over the past decade. The country's Financial Services Commission (FSC) is offering two domestic Internet-banking licenses to bid on. Additionally, the FSC will strive to realize Creative Finance, rebuild trust in financial markets and ensure financial stability in 2015.

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