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K-Bank Sets March 5 KOSPI Debut With Scaled-Back IPO Focused on Digital Finance

Proceeds will fund a push into stablecoin-based cross-border payments.

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Choi Woo-hyoung, chief executive officer of internet-only K-Bank, speaks at a press conference in Seoul on Feb. 5, 2026, about the bank's initial public offering (IPO) planned for March. (Yonhap)
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Overview

  • The offering totals 60 million shares at 8,300–9,500 won, targeting 498–570 billion won and implying roughly a 3.5 trillion won valuation.
  • Institutional bookbuilding runs through Feb. 10, with public subscription on Feb. 20 and 23 ahead of the March 5 listing.
  • Upon listing, 725 billion won of previously committed capital will be recognized as regulatory capital, lifting total inflows to about 1 trillion won under a pact tied to a July deadline.
  • Management plans a bank-led consortium to issue won-denominated stablecoins once legislation is finalized, with pilots for cross-border payments underway in Thailand and the UAE leveraging BC Card’s network.
  • K-Bank remains the exclusive banking partner for Upbit, with about 24% of deposits from the exchange as of Q3, while pursuing SME lending growth and a 15% ROE before dividends.