News Regional12 Jul 2019

South Korea:IT giant enters insurance business with acquisition of insurance platform


Kakao Pay, the FinTech division of IT giant Kakao, has acquired insurance platform start-up, Inbyu's shares and secured its management rights, reported The Korea Times. The acquisition is considered a strategic move for the FinTech to enter the insurance business as Inbyu will act as a general agency for Kakao Pay's insurance services.

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