Global app-based rideshare service operator Uber Technologies Inc. and South Korea’s KB Financial Group Inc. have signed an agreement to work together to launch a domestic food delivery service, the financial conglomerate said Monday.

Uber is expected to launch the food delivery service, UberEATS, in South Korea by the end of this year, KB Financial said.

An official at Kookmin Bank, flagship bank of KB Financial, said the lender has been considering making loans to possible members of Uber’s restaurant delivery service.

Uber and KB Financial have been reviewing how to apply Uber’s location-based services to KB Financial’s financial services, the source said.

KB Financial’s two other affiliates, KB Card and KB Capital, also plan to join hands with UberEATS, according to KB Financial officials.

• Original reporting from Yonhap, via Korea Bizwire.