Hana leads race for Korea's growing foreign banking market

What happened: Hana Bank leads foreign-held deposit accounts in South Korea with 4.2 million, ahead of Woori and KB Kookmin, per Financial Supervisory Service data shared with The Korea Herald. Key numbers: Hana 4.2 million accounts, Woori 2.56 million, KB Kookmin 1.49 million, Industrial Bank of Korea 1.32 million, Shinhan 1.3 million, NH NongHyup about 877,000, Toss about 321,000 as Why it matters: Banks are competing for a growing foreign customer base, with Hana and Woori citing specialized branches and Sunday banking as key draws while digital banks such as Kakao Bank enter the market.

Hana Bank leads foreign-held deposit accounts in South Korea with 4.2 million, ahead of Woori and KB Kookmin, per Financial Supervisory Service data shared with The Korea Herald.

Banks are competing for a growing foreign customer base, with Hana and Woori citing specialized branches and Sunday banking as key draws while digital banks such as Kakao Bank enter the market.