It is a new illustration of the transformations at work in the banking sector, on a global scale. Online banking Kakao Bank made a big splash on the Seoul Stock Exchange last week. On its first day of trading on Friday, the stock jumped 79% to 69,800 won (or 51.4 euros). Since then, its price has risen further.
The young company, created in 2016, is now valued at 35 trillion won, or nearly 26 billion euros.
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