Korea operators forge financial JV - Mobile World Live

Korea operators forge financial JV

05 AUG 2022

South Korean operators joined forces with two local credit agencies, outlining plans to establish a joint venture to improve access to financial transaction data.

SK Telecom, KT and LG Uplus signed an agreement with the Korea Credit Bureau (KCB) and SGI Seoul Guarantee to move into the professional personal credit rating business, with plans to develop a range of financial services.

In a translated release, the companies explained their objective is to increase loan limits and lower interest rates for the financially disadvantaged with limited access to services due to a lack of a credit history.

The operators will each take a 26 per cent stake in the JV, with KCR and SGI Seoul Guarantee 11 per cent apiece.

SGI Seoul Guarantee will provide assurances for those with insufficient financial histories using new data sets developed by the JV.



Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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