South Korea
South Korean bank deposits up by KRW22.3t in February
Transferable deposits rose by KRW21.4t during the month.
South Korean bank deposits up by KRW22.3t in February
Transferable deposits rose by KRW21.4t during the month.
Korean banks' household loans extend decline whilst corporate loans slow
Loans extended to local SMEs rose rapidly in February.
South Korea’s chief financial regulator urges banks to reduce interest income dependence: report
Lee Bok-hyun said the FSS is looking for ways to encourage lenders to diversify income streams.
South Korea reviews allowing insurers to conduct banking operations
A task force was formed to look into this.
Korean banks' plan to boost shareholder returns won't affect profits
The regulator is expected to stop any excessive payments.
Korean banks’ bad loans ratio up 0.02ppt in November
Ratio reflects loans overdue by at least one month.
Payment cards account for 60.9% of e-commerce purchases in South Korea
Added-value benefits of using cards help maintain its dominance.
Banks in South Korea to maintain eased stance in extending loans: report
Increased lending capacity and intensifying competition encourage banks.
South Korea’s household lending rate soars to highest in 10 years: report
The household lending rate hit 5.57% per annum on average in November.
South Korea’s credit card payments market to be worth $890b in 2026
In the near term, rising interest rates may discourage card use.
Sound underwriting shields South Korean banks’ from housing market downturn: Fitch
Unsecured personal loans and small business loans are bigger risks.
Kakao Bank, Kakao Pay shares tumble as fire disrupts services: report
All services under Kakao were severely affected by the data center fire.
South Korea’s bank loans fall by $834m in September: report
The rise in banks’ lending rates contributed to the fall.
Korean banks’ in solid position to weather strong US dollar
Expectation of strong government support and solid foreign currency liquidity will support banks.
Alipay+ to enable cross-border payments to South Korea for four Asian e-wallet
Users of these e-wallets can now pay over 120,000 merchants in South Korea.
South Korea financial firms shutters 1,000 offline offices in one year
Banks closed 380 offline offices between March 2021 to March 2022, according to the FSS.
South Koreans’ internet banking use up 6.9% in H1
There are about 18.82 million use cases per day in Korea.
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