Industry Minister Kim Jung-kwan, left, and KakaoBank CEO Yun Ho-young, second from left, pose with MCS Holdings CEO Myagmarjav Ganbyamba, third from left, and Mongolian Deputy Prime Minister Togmid Dorjkhand during a signing ceremony between KakaoBank and MCS Holdings during the Korea-Mongolia Business Forum in Ulaanbaatar, Thursday.
Courtesy of KakaoBank KakaoBank CEO Yun Ho-young attended the Korea-Mongolia Business Forum in Ulaanbaatar held on the sidelines of President Lee Jae Myung's state visit to Mongolia, the lender said Friday.
Yun was the only CEO of a Korean commercial bank included in the president's business delegation during the three-day trip.
At the forum held the previous day, Yun delivered a presentation titled "Beyond Banking, Into Every Life," introducing KakaoBank's digital banking model and its use of alternative credit scoring and artificial intelligence (AI) to broaden access to financial services.
He said Korea's largest internet-only lender has lowered barriers to customers by reducing time, cost and credit constraints, citing its alternative credit assessment model as a key tool for extending loans to underserved borrowers.
