South Korea's second branchless bank is set to expand its operations with a much needed boost in funds.
 
Kakao Bank's shareholders on Tuesday injected 500 billion won, or roughly 441 million dollars, in the Internet-only bank, scaling up the reserve capital to 800 million won.
 
Kakao had been slowing down the pace of its loans as a month after it began business, the amount of its distributed loans exceeded one-point-four trillion won.
 
The injection of extra funds will go into effect on Wednesday.