South Korea names 10 domestic systemically important banks for 2025

They are required to log a 1% additional capital surcharge in 2025.

Ten financial firms– five bank holding companies and five banks– have been named domestic systemically important banks (D-SIBs) by South Korean regulators on 10 July.

Shinhan Financial Group, KB Financial Group, Hana Financial Group, Woori Financial Group, NH Financial Group, KB Kookmin Bank, Woori Bank, Shinhan Bank, KEB Hana Bank, and NH Bank have been identified as D-SIBs by the Financial Services Commission for 2025.

They will be required to log a 1% additional capital surcharge in 2025.

All ten firms have also been named as domestic systemically important financial institutions (D-SIFIs) and are required to prepare and submit their own recovery plans to the Financial Supervisory Service (FSS) within the next three months.