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List of banks in South Korea

March 14, 2024

This is a list of South Korean banks. The parenthesized number is the bank number.

Central bank edit

Specialized banks edit

Specialized banks are financial institutions established under a special act, not the Korean Banking Act.[1] The South Korean government owns the majority of its shares in the Korea Development Bank, Industrial Bank of Korea, and Korea Eximbank. Suhyup Bank and Nonghyup Bank are not owned by the Korean government, but their organizations (NFAC – which is a sole shareholder of Nonghyup Financial Group – and NFFC) are largely influenced by the Korean government.[according to whom?]

Commercial banks edit

Nationwide edit

Local edit

Internet-only edit

Foreign bank branches edit

As of 2023, 34 foreign bank branches are affiliated with the Federation of Korean Banks as associate members.[2] The GIRO code for unlisted foreign banks is 051.

Non-bank depository institutions edit

In comparison to commercial banks, non-bank deposit-taking institutions have a narrower scope of business activities. They are established for limited purposes and governed by distinct regulations concerning their fund-raising and management. Payment and settlement services may be limited or non-existent, and their business focuses are constrained in accordance with each institution's unique characteristics.[1]

Strictly, these institutions are not banks, but have a similar purpose and are widely recognised as a kind of bank. These institutions cannot use the name "bank" except (according to the 2010 Mutual Savings Banks Act) the Mutual Savings Bank.

Credit cooperatives edit

  • Korea Federation of Community Credit Cooperatives (045, 046, 085)
  • National Agricultural Cooperative Federation (012)
  • National Credit Union Federation of Korea (048)
  • National Federation of Fisheries Cooperatives (007)
  • National Forestry Cooperative Federation (064)

Mutual savings bank (050) edit

Postal saving edit

  • Korea Post (071), Postal Financial Service by MSIP

M&A tree edit

  • KB Kookmin Bank
    • Kookmin Bank (old, ~2001)
      • Daedong Bank (~1998)
      • Long-term Credit Bank (~1998)
    • Housing and Commercial Bank (~2001)
      • Dongnam Bank (~1998)
  • Woori Bank
    • Woori Bank ← Hanvit Bank
      • The Commercial Bank of Korea
      • Hanil Bank
    • Korea Peace Bank (~2001)
  • Shinhan Bank
    • Chohung Bank (~2006)
      • Chungbuk Bank (~1999)
      • Kangwon Bank (~1999)
    • Shinhan Bank (old, ~2006)
      • Dongwha Bank (~1998)
  • KEB Hana Bank
    • Korea Exchange Bank (~2012)
    • Seoulbank (~2002)
    • Boram Bank (~1996)
    • Chungchong Bank (~1998)
  • Citibank Korea
    • Citibank N.A. Seoul branch (~2004)
    • KorAm Bank (~2004)
      • Kyungki Bank

See also edit

References edit

  1. ^ a b "Financial System in Korea – Financial Institution". Bank of Korea.
  2. ^ "List of Members – Associate Members". Korea Federation of Banks.

External links edit

  • Korea Federation of Banks

March 14, 2024
list, banks, south, korea, this, article, needs, additional, citations, verification, please, help, improve, this, article, adding, citations, reliable, sources, unsourced, material, challenged, removed, find, sources, news, newspapers, books, scholar, jstor, . This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources List of banks in South Korea news newspapers books scholar JSTOR November 2023 Learn how and when to remove this template message This is a list of South Korean banks The parenthesized number is the bank number Contents 1 Central bank 2 Specialized banks 3 Commercial banks 3 1 Nationwide 3 2 Local 3 3 Internet only 3 4 Foreign bank branches 4 Non bank depository institutions 4 1 Credit cooperatives 4 2 Mutual savings bank 050 4 3 Postal saving 5 M amp A tree 6 See also 7 References 8 External linksCentral bank editBank of Korea 001 Specialized banks editSpecialized banks are financial institutions established under a special act not the Korean Banking Act 1 The South Korean government owns the majority of its shares in the Korea Development Bank Industrial Bank of Korea and Korea Eximbank Suhyup Bank and Nonghyup Bank are not owned by the Korean government but their organizations NFAC which is a sole shareholder of Nonghyup Financial Group and NFFC are largely influenced by the Korean government according to whom Export Import Bank of Korea 008 Industrial Bank of Korea 003 Korea Development Bank 002 Nonghyup Bank 011 Suhyup Bank 007 Commercial banks editNationwide edit Citigroup Citibank Korea 027 Hana Financial Group Hana Bank 081 KB Financial Group Kookmin Bank 004 Standard Chartered Standard Chartered Korea 023 trading as SC First Shinhan Financial Group Shinhan Bank 088 Woori Financial Group Woori Bank 020 Local edit DGB Financial Group Daegu Bank 031 BNK Financial Group Busan Bank 032 Kyongnam Bank 039 JB Financial Group ko Kwangju Bank 034 Jeonbuk Bank 037 Shinhan Financial Group Jeju Bank ko 035 Internet only edit K Bank 089 KakaoBank 090 Toss Bank 092 Foreign bank branches edit This section may require cleanup to meet Wikipedia s quality standards The specific problem is fill in bank codes Please help improve this section if you can November 2023 Learn how and when to remove this template message As of 2023 34 foreign bank branches are affiliated with the Federation of Korean Banks as associate members 2 The GIRO code for unlisted foreign banks is 051 Agricultural Bank of China ANZ Bank Mellat Bank Negara Indonesia Bank of America 060 Bank of China 063 Bank of Communications 066 BNP Paribas 061 BNY Mellon China Construction Bank 067 China Everbright Bank Credit Agricole Corporate and Investment Bank Credit Suisse DBS Bank Deutsche Bank 055 HSBC 054 Industrial and Commercial Bank of China 062 ING Bank JPMorgan Chase 057 Landesbank Baden Wurttemberg Metrobank Mizuho Bank 058 Morgan Stanley 052 MUFG Bank 059 National Bank of Pakistan OCBC Bank Societe Generale State Bank of India State Street Bank and Trust Company Sumitomo Mitsui Banking Corporation Union of Arab and French Banks United Overseas Bank 065 Wells Fargo Yamaguchi BankNon bank depository institutions editIn comparison to commercial banks non bank deposit taking institutions have a narrower scope of business activities They are established for limited purposes and governed by distinct regulations concerning their fund raising and management Payment and settlement services may be limited or non existent and their business focuses are constrained in accordance with each institution s unique characteristics 1 Strictly these institutions are not banks but have a similar purpose and are widely recognised as a kind of bank These institutions cannot use the name bank except according to the 2010 Mutual Savings Banks Act the Mutual Savings Bank Credit cooperatives edit Korea Federation of Community Credit Cooperatives 045 046 085 National Agricultural Cooperative Federation 012 National Credit Union Federation of Korea 048 National Federation of Fisheries Cooperatives 007 National Forestry Cooperative Federation 064 Mutual savings bank 050 edit OK Savings Bank Pepper Savings Bank SBI Savings BankPostal saving edit Korea Post 071 Postal Financial Service by MSIPM amp A tree editKB Kookmin Bank Kookmin Bank old 2001 Daedong Bank 1998 Long term Credit Bank 1998 Housing and Commercial Bank 2001 Dongnam Bank 1998 Woori Bank Woori Bank Hanvit Bank The Commercial Bank of Korea Hanil Bank Korea Peace Bank 2001 Shinhan Bank Chohung Bank 2006 Chungbuk Bank 1999 Kangwon Bank 1999 Shinhan Bank old 2006 Dongwha Bank 1998 KEB Hana Bank Korea Exchange Bank 2012 Seoulbank 2002 Boram Bank 1996 Chungchong Bank 1998 Citibank Korea Citibank N A Seoul branch 2004 KorAm Bank 2004 Kyungki BankSee also edit nbsp Banks portalList of banks in Asia List of South Korean companies Economy of South KoreaReferences edit a b Financial System in Korea Financial Institution Bank of Korea List of Members Associate Members Korea Federation of Banks External links editKorea Federation of Banks Retrieved from https en wikipedia org w index php title List of banks in South Korea amp oldid 1201869610, wikipedia, wiki, book, books, library,

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