KakaoBank targets Mongolia as next market in global expansion

KakaoBank is turning to Mongolia as the next step in its global strategy, building on the success of its expansion in Indonesia and Thailand, CEO Yun Ho-young said Wednesday. Speaking at a press conference in Seoul, Yun said the move is significant because it exports the bank's proven model of inclusive finance beyond Korea. "Mongolia represents a meaningful step in bringing KakaoBank's inclusive finance model, proven in Korea, to the global stage. We will use our achievements in Indonesia and Thailand as a springboard to expand further into global markets," he said. The country's largest internet-only bank plans to transfer its proprietary credit scoring system "KakaoBank Score" to a Mongolian financial institution, using nonfinancial data to improve credit assessment. The strategy in Mongolia builds on the bank's expansion in the Southeast Asian market. Indonesia's Superbank — KakaoBank's first overseas investment — debuted on the Indonesia Stock Exchange in December 2025 and has since emerged as a fast-growing digital bank in the country. In Thailand, KakaoBank is preparing to launc

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