Jump to content

List of banks in South Korea

From Wikipedia, the free encyclopedia

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]

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.
[edit]
Retrieved from "https://wiki.riteme.site/w/index.php?title=List_of_banks_in_South_Korea&oldid=1247246619"