Kakao Bank brings full-app banking to foreign residents

What happened: Kakao Bank launched banking services for foreign residents, opening more than 50 financial and lifestyle features through the same app used by Korean customers. Key numbers: Foreign residents in Korea reached about 2.2 million at the end of 2025, up 38 percent from 2021. Account opening takes about five minutes. Why it matters: Bae Jung-ho said separate apps can leave foreign customers behind as banks add services, widening the gap with Korean customers. Using the existing platform gives foreign residents the same services and benefits at launch.

Kakao Bank launched banking services for foreign residents, opening more than 50 financial and lifestyle features through the same app used by Korean customers.

Bae Jung-ho said separate apps can leave foreign customers behind as banks add services, widening the gap with Korean customers. Using the existing platform gives foreign residents the same services and benefits at launch.