List of banks in South Korea Directory of Banks in South Korea

South Korea has a well-developed banking system with a wide range of banks to choose from.

The country is home to five major commercial banks: KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank, and NongHyup Bank.

These banks offer a variety of services including personal and corporate banking, credit cards, and investment products.

South Korea has a vibrant banking scene, and one of the notable types of banks is commercial banks.

In South Korea, commercial banks are a popular choice for many consumers.

K Bank is one of the notable commercial banks in the country, with a phone number prefix of 089.

KakaoBank is another well-known commercial bank, with a phone number prefix of 090.

Toss Bank rounds out the list of commercial banks, with a phone number prefix of 092.

Government and Nationwide Banks in South Korea are quite prominent, and here's a brief overview. The Export-Import Bank of Korea, known as the Korea Eximbank, is one such institution.

The Industrial Bank of Korea (IBK) is another notable government-owned bank. Korea Development Bank (KDB) also plays a significant role in the country's banking sector.

Here are some of the government-owned banks in South Korea:

Government Owned banks play a significant role in the financial sector of a country. In Korea, there are three notable government-owned banks.

The Export-Import Bank of Korea, also known as the Korea Eximbank, is one of the government owned banks in Korea. It was established to facilitate international trade and investment.

Industrial Bank of Korea (IBK) is another government-owned bank in Korea. It offers a wide range of financial services to its customers.

Korea Development Bank (KDB) is a government-owned bank that focuses on supporting the development of key industries in Korea.

Nationwide banks in South Korea are a crucial part of the country's financial system.

KEB Hana Bank is one of the largest banks in the country.

KB Kookmin Bank is another major player in the market.

Citibank Korea is a global bank with a significant presence in the country.

Nonghyup Bank is a bank that focuses on rural development.

Standard Chartered Korea is a multinational bank with a strong reputation.

Shinhan Bank is a major bank with a wide range of financial services.

Woori Bank is a bank that offers a variety of banking services to individuals and businesses.

The top banks in South Korea are a mix of major players and smaller regional banks. Let's take a look at the top 10 list.

KB Kookmin Bank is one of the largest banks in South Korea, with its operational headquarters in Seoul. Hana Bank and Shinhan Bank are also based in Seoul, making them among the biggest players in the country.

The following is a list of the top 10 banks in South Korea, based on their operational headquarters:

These banks are the major players in South Korea's banking industry, with many of them having a significant presence in the country's capital city, Seoul.

In South Korea, you can find several popular online banks that offer convenient services. K Bank is the first internet-only and app-based bank in the country, operated by KT Corporation.

It's expected to re-promote its initial public offering (IPO) in 2024 and currently has over 9.5 million customers. K Bank allows customers to withdraw and deposit money from any ATM they wish.

Another popular online bank is Kakao Bank, which has over 6 million customers and is affiliated with the popular mobile messenger app KakaoTalk. It offers a wide range of services, including deposit and loan products, debit and credit cards, and foreign exchange.

Here are some key features of the popular online banks in South Korea:

Online banking is becoming increasingly popular in South Korea, with several notable players in the market. K Bank is the first internet-only and app-based bank in the country, operated by KT Corporation, and is preparing to re-promote its initial public offering (IPO) in 2024.

Kakao Bank is another popular online bank, with over 6 million customers and a wide range of services including deposit and loan products, debit and credit cards, foreign exchange, and offshore wire transfers. Customers can also withdraw and deposit money from any ATM they wish.

TossBank is a South Korean neobank owned by fintech company Viva Republica. It's worth noting that both K Bank and Kakao Bank have a significant customer base, with K Bank having over 9.5 million customers.

Here's a brief overview of the popular online banks in South Korea:

Hana Bank has a long history, being established in 1967. It was initially known as the Korea Exchange Bank, but got its new name following a merger with Hana Financial Group.

Hana Bank offers a range of services, including online banking and ATM fee exemptions for its EasyOne Pack Account, designed for foreign customers. This account is a great option for those who need to manage their finances while abroad.

The Hana Financial Group, which Hana Bank is a part of, is the fourth-largest commercial bank in South Korea. It has a significant presence, with over 1,100 branches in South Korea and 150 in 24 countries.

Hana Financial Group has a large workforce, with around 21,700 employees. Its headquarters is located in Seoul, and its total assets acquired by the end of June 2017 were 349.045 trillion KRW.

Regional Banks in South Korea are a vital part of the country's financial system. They provide essential banking services to local communities.

There are several notable regional banks in South Korea, including Busan Bank, Daegu Bank, Jeonbuk Bank, Jeju Bank, Kyongnam Bank, and Kwangju Bank. These banks serve the specific needs of their respective regions.

Here are some of the regional banks in South Korea:

Specialized banks are a unique category of financial institutions in South Korea. They're established under a special act, rather than the Korean Banking Act.

The government owns the majority of shares in some of these specialized banks, such as the Korea Development Bank, Industrial Bank of Korea, and Korea Eximbank.

These institutions have a significant impact on the country's economy, particularly in areas like export-import and industry development.

Here are some examples of specialized banks in South Korea:

The Korea Federation of Banks is also involved with these specialized banks, but its exact role is not specified in the provided information.

The Industrial Bank of Korea is a state-owned bank founded in 1961.

It specializes in small business loans, but also offers retail banking products, including the IBK W Account for workers building their savings.

The bank also offers cards, insurance, and loans.

The Government of South Korea owns a major stake in this bank, around 57.7%.

At the end of June 2017, the total assets acquired by the Industrial Bank of Korea were 257.482 trillion KRW.

Small business loans make up a significant portion of the bank's offerings, with 81% of these loans offered by the Industrial Bank of Korea.

Local banks in South Korea have a long history, with some dating back to the 1960s.

Kwangju Bank, for example, was established in 1968, around 54 years ago. It's a significant milestone for any business.

The main focus of Kwangju Bank is to provide financial aid to local small and medium-sized business owners. This is a vital service that many entrepreneurs rely on.

About 1,500 employees work in Kwangju Bank, which is a substantial workforce.

The headquarter of Kwangju Bank is located in Gwangju, a city in southwestern South Korea.

At the end of September 2014, the total assets acquired by Kwangju Bank were 17.432 trillion KRW. That's a huge amount of money.

Here are some other local banks in South Korea:

Busan Bank is a great example of a regional bank that offers a full range of retail banking services, founded in 1967 in the port city of Busan.

It's a regional bank, not a global one, but it still provides a wide range of financial services to local customers.

One of its popular accounts is the BNK Savings account, which offers flexible savings and money management.

Busan Bank also offers services for businesses, including accounts, cards, loans, and financing.

If you're looking for a cost-effective way to send money internationally or use your debit card when you travel, Busan Bank is definitely worth considering.

The bank has a great list of shareholders, including the Lotte group, Capital Research & Global Investors, and Templeton, which helps it grow gradually.

Interest from loans is the main income source for Busan Bank, but it's also working to increase its share of non-interest income.

South Korea is home to a diverse range of foreign banks, with over 30 branches and subsidiaries operating in the country.

These foreign banks include ANZ Bank, Bank Mellat, and Bank Negara Indonesia, which are among the many international banks that have established a presence in South Korea.

Here are some of the notable foreign banks operating in South Korea:

Foreign bank branches in South Korea are numerous and diverse. As of 2023, 34 foreign bank branches are affiliated with the Federation of Korean Banks as associate members.

The GIRO code for unlisted foreign banks is 051. This code is used to identify and process transactions for foreign banks that are not listed with the Federation of Korean Banks.

Some of the notable foreign bank branches in South Korea include ANZ, Bank Mellat, and Bank Negara Indonesia. These banks have a significant presence in the country and offer a range of financial services to customers.

Here is a list of some of the foreign bank branches in South Korea:

Standard Chartered is a British banking group with a presence in South Korea, established in 2005 through the acquisition of Korea First Bank.

The bank offers a range of products, including the popular My Plus Account, designed for retail customers to earn interest on their spare savings.

Standard Chartered Bank Korea provides solutions for business growth, money management, savings, and asset management to its business customers.

The bank's My Plus Account is designed for deposits and withdrawals, making it a convenient option for customers to manage their finances.

Standard Chartered Bank Korea has been serving customers in South Korea for over 15 years, offering a range of financial services to individuals and businesses alike.

South Korea has a wide range of banks to choose from, each with its unique features and services. The Bank of Korea is the central bank of South Korea, responsible for maintaining price stability.

The largest bank in South Korea by asset value and market capitalization is Kookmin Bank Co. Ltd., a part of KB Financial Group Inc. Kookmin Bank has been recognized as the "Best Trade Finance Bank in Korea" for 2016 by the Asian Banker Magazine.

Hana Bank is a wholly-owned subsidiary of Hana Financial Group Inc., the 4th largest commercial banking group in South Korea. It has a network of 663 branches and about 3,150 ATMs as of March 31, 2011.

KEB Hana Bank, formerly known as Korea Exchange Bank, is the largest bank in South Korea measured in assets and the largest foreign exchange bank in South Korea. It is a part of Hana Financial Group Inc.

Kwangju Bank Ltd. is a wholly-owned subsidiary of KJB Financial Group Co., engaged in commercial banking activities in the Kwangju and Cheonnam Province areas, as well as in Seoul.