Korea’s ‘Kakao Bank’ invested in ‘Super Bank’, launched in Indonesia.

Kakao Bank [323410], a Korean online bank, invested in ‘Superbank’, a digital bank launched in Indonesia. Kakao Bank announced the official launch of Superbank, which is Kakao Bank’s first overseas investment.

Superbank is a major digital bank in Indonesia, and its major shareholders include Southeast Asian app ‘Grab’, the largest local media company ‘M-Tech’, and ‘Singapore Telecom’.

Last September, Kakao Bank invested a 10% stake in Superbank for business cooperation with Grab in Southeast Asia. In the future, Kakao Bank said it plans to further strengthen its understanding of the Southeast Asian market and expand its global capabilities by participating in Superbank’s product and service planning and development process.

A Kakao Bank official said, “We will contribute to the development of local financial technology through Kakao Bank’s unique mobile financial technology capabilities and strategic partnerships based on this, while gradually expanding the global digital bank network.”

Editor. Seyeong Hong