The service enables users to transmit cash through the messenger application KakaoTalk, the IT giant said.
The company said it has built partnership with the Korea Financial Telecommunications and Clearings Institute and 16 local banks.
A subscriber of the service can deposit up to 500,000 won (about US$460) in his or her "bank money" account. He or she can send up to 100,000 won per day and receive up to 500,000 won through the app.
Users aged 14 or older are eligible to subscribe to the service. However, those aged 19 or younger are only allowed to receive money, the company said.
reporter
Park Sae-jin
swatchsjp@ajunews.com
