List of Banks in South Korea

The Korean banking sector is dominated by five major financial holding companies: Shinhan Financial Group, KB Financial Group, Hana Financial Group, Woori Financial Group and NongHyup. The Bank of Korea, founded on June 12, 1950, is the central bank of the country.

Top Banks in South Korea

Here is a list of the major and popular banks in South Korea.

  • KB Kookmin Bank
  • Shinhan Bank
  • Hana Bank
  • Woori Bank
  • Industrial Bank of Korea
  • Nonghyup Bank
  • Korea Development Bank
  • Export-Import Bank of Korea
  • Standard Chartered
  • Busan Bank *
  • Daegu Bank **
  • Suhyup Bank
  • Citibank Korea
  • Kyongnam Bank ***
  • Kakao Bank
  • Kwangju Bank ^
  • Jeonbuk Bank ^

* Busan Bank is a subsidiary of BNK Financial Group.
** Daegu Bank is a subsidiary of DGB Financial Group.
*** Kyongnam Bank is a division of BNK Financial Group
^ Kwangju Bank and Jeonbuk Bank are subsidiaries of JB Financial Group.

Government owned banks

  • The Export-Import Bank of Korea (known as the Korea Eximbank)
  • Industrial Bank of Korea (IBK)
  • Korea Development Bank (KDB)

Nationwide banks

  • KEB Hana Bank
  • KB Kookmin Bank
  • Citibank Korea
  • Nonghyup Bank
  • Standard Chartered Korea
  • Shinhan Bank
  • Woori Bank

Local banks

  • Busan Bank
  • Daegu Bank
  • Jeonbuk Bank
  • Jeju Bank
  • Kyongnam Bank
  • Kwangju Bank

See also: Largest Banks in South Korea

Popular Online Banks in South Korea

  • K Bank is the first internet-only and an app-based bank in South Korea. It is operated by KT Corporation. In 2024, K Bank will re-promote its initial public offering (IPO). Currently, K Bank has over 9.5 million customers.
  • Kakao Bank is the popular Korean online bank headquartered in Seongnam-si. With over 6 million customers, it is the second branchless bank in the country following K bank. It offers deposit and loan products, debit and credit cards, foreign exchange, offshore wire transfers and other services. Customers are allowed to withdraw and deposit money from any ATM that they wish. Kakao Bank is affiliated with South Korea’s most popular mobile messenger app KakaoTalk.
  • TossBank is a South Korean neobank owned by fintech company Viva Republica.

List of Foreign Banks in South Korea

Here is a list of branches and subsidiaries of foreign banks operating in South Korea.

  • ANZ Bank, Seoul Branch
  • Bank Mellat
  • Bank Negara Indonesia
  • Bank of America NA, Seoul Branch
  • Bank of China
  • Bank of Communications
  • BNP Paribas, Seoul Branch
  • BNP Paribas Securities Korea Co Ltd
  • BNY Mellon
  • Deutsche Bank AG, Seoul Branch
  • Agricultural Bank of China
  • China Construction Bank
  • Crédit Agricole Corporate and Investment Bank
  • Credit Suisse
  • DBS Bank Ltd, Seoul Branch
  • HSBC Korea
  • ICBC Ltd, Seoul Branch
  • China Everbright Bank
  • ING Bank N.V. Seoul
  • JPMorgan Chase & Co
  • Landesbank Baden-Württemberg
  • Metrobank
  • Mizuho Bank
  • Morgan Stanley
  • MUFG Bank
  • National Bank of Pakistan
  • OCBC Bank
  • Société Générale
  • State Bank of India
  • State Street Bank & Trust Company
  • Sumitomo Mitsui Banking Corporation
  • Union de Banques Arabes et Francaises (UBAF)
  • United Overseas Bank (UOB)
  • Wells Fargo Bank NA, Seoul Branch
  • Yamaguchi Bank

Last updated December 1, 2024