Overseas assets of South Korean banks up 3.5% to $210.19b in 2023

Assets increased in Japan, the US, and the UK.

Overseas assets of South Korea’s domestic banks rose 3.5% in 2023, according to data from the Financial Supervisory Services (FSS) released in June 2024.

As of end-December 2023, the aggregate assets of the overseas businesses of banks came at $210.19b. A total of $7.05b were added to Korean banks’ assets overseas.

In particular, assets considerably increased in Japan, the US, and the UK, according to the FSS.

As of December 2023, domestic banks were operating in 41 countries through 60 countries, 88 branches, and 54 offices. Most of the overseas operations were concentrated in Asia, accounting for 67.8% of the total, followed by the Americas at 14.4%.