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Photo = Yonhap news |
[Alpha Biz= Paul Lee] Duzon Bizon Co., Ltd. (CEO: Kim Yong-woo) has announced its decision to become the second-largest shareholder of Jeju Bank (CEO: Lee Hee-soo) by investing in a regional bank instead of pursuing a license for a fourth internet-only bank.
Through participation in Jeju Bank’s third-party capital increase, Duzon Bizon has acquired all 5,669,783 newly issued shares for ₩57 billion, securing a 14.99% stake—the maximum allowed under current regulations for non-financial companies investing in regional banks.
With this strategic investment, Duzon Bizon plans to actively participate in Jeju Bank’s digital business, allocating the entire investment to the development of digital banking. The company intends to apply various business models developed during its internet-only bank preparations to drive innovation in digital financial platforms.
This move aims to minimize the uncertainty and volatility associated with launching a full-scale internet bank, while still advancing the company’s long-standing goal of innovating financial platforms.
Duzon Bizon also plans to integrate financial and banking solutions into its existing business software, providing a comprehensive platform that addresses corporate needs in a unified solution, enhancing its competitiveness in the digital finance sector.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
