Financial services in South Korea

Overview of financial services in South Korea

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Economy of South Korea History

* Five-Year Plans
* Saemaul Undong
* Heavy-Chemical Industry Drive
* Miracle on the Han River
* 1997 Asian financial crisis

Business culture

* Chaebol
* Trade policy

Industries

* Currency
* Communications
* Tourism
* Transportation
* Financial services
* Energy

Regional

* Regions by GDP per capita
* Seoul

Related topics

* Science and technology
* Cities

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Financial services in South Korea refers to the services provided in ROK by the finance industry: banks, investment banks, insurance companies, credit card companies, consumer finance companies, government sponsored enterprises, and stock brokerages.

## Foreign banks[edit]

Foreign banks (Citibank, HSBC, Deutsche Bank, etc.) which have a presence in ROK are not international branches, but rather wholly Korean entities, due to Korean law.[citation needed] The branches must obtain a banking license from the Korean Financial Services Commission (FSC).[1]

## International ATMs[edit]

Korean citizens may apply for an international ATM card corresponding to an interbank network such as Cirrus or PLUS, but foreign residents may not. Foreign residents in ROK, however, may use such interbank networks at ATMs in ROK through ATM cards procured in foreign countries. Foreigner can open an account in a local bank and get a local ATM Card if they have a residence card. Shinhan Bank and Woori bank allow foreigners to open bank accounts without a residence card.[2]

Interbank ATMs are common throughout the country, especially in densely populated urban areas such as Seoul.

## See also[edit]

* List of banks in South Korea
* Economy of South Korea

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* Category
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Economy of South Korea

History|

* Five-Year Plans of South Korea
* Heavy-Chemical Industry Drive
* Miracle on the Han River
* Four Asian Tigers
* 1997 Asian financial crisis
* South Korea–Japan trade dispute

Currency|

* Won (1945–1953)
* Hwan (1953–1962)
* Won (1962–)
* Korea Minting and Security Printing Corporation
* Bank of Korea

Industry|

* Agriculture
* Rice production
* Automotive
* Film
* Defense
* Financial services
* Fishing
* Markets
* Retailing
* Science and technology
* Semiconductor
* Tourism

Labor|

* Inequality
* Labor movement
* Poverty
* Trade unions
* Unemployment
* Youth unemployment
* Work-life balance

Energy|

* Energy
* Nuclear power
* Trans-Korea Pipeline
* South–North Pipeline Korea

Finance|

* Korea Exchange
* KOSPI
* KOSDAQ
* Banks
* Korea Deposit Insurance Corporation
* Korea Financial Investment Association
* Kimchi bond

Free Trade Agreements|

* ASEAN
* EFTA
* India
* Indonesia
* Peru
* European Union
* United States
* Australia
* Canada
* China
* Other FTAs
* Exports
* Trade policy

Government agencies|

* Ministry of Economy and Finance
* Ministry of Employment and Labor
* Ministry of SMEs and Startups
* Ministry of Trade, Industry and Energy
* Fair Trade Commission
* Financial Services Commission
* Financial Supervisory Service

Organizations|

* Federation of Korean Industries
* Korea International Trade Association

Related topics|

* Billionaires
* Chaebol
* Companies
* Largest companies
* International rankings
* Regions by GDP
* Seoul

See also: Economy of North Korea

* v
* t
* e

Index of Korea-related articles

* North Korea
* South Korea

History of Korea

| General|

* Military history of Korea
* List of monarchs of Korea
* Timeline of Korean history

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Chronology|

* Gojoseon
* Dangun Joseon / Gija Joseon / Wiman Joseon / Jin (Korean state)
* Proto–Three Kingdoms of Korea
* Buyeo / Okjeo / Dongye / Samhan / Four Commanderies of Han
* Three Kingdoms of Korea
* Goguryeo / Baekje / Silla / Gaya confederacy
* North–South States Period
* Later Silla / Balhae
* Later Three Kingdoms
* Taebong / Later Baekje / Silla
* Goryeo
* Joseon
* Korean Empire
* Korea under Japanese rule
* Provisional Government of the Republic of Korea
* Division of Korea
* United States Army Military Government in Korea / Soviet Civil Administration / Korean War
* History of South Korea / History of North Korea
* COVID-19 pandemic in North and South Korea

Geography of Korea

| General|

* Borders
* Korean Peninsula
* List of islands of Korea
* List of lakes of Korea
* List of mountains in Korea
* List of rivers of Korea
* Provinces of Korea
* Regions of Korea
* Geology of South Korea
* Floods in Korea

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Geography of North Korea|

* Administrative divisions of North Korea
* List of cities in North Korea
* Special cities of North Korea
* Geology of North Korea

Geography of South Korea|

* Administrative divisions of South Korea
* Environment of South Korea
* List of cities in South Korea
* List of special cities of South Korea
* List of World Heritage Sites in South Korea

Politics

| North Korea|

* Constitution of North Korea
* Foreign relations of North Korea
* Relations with South Korea
* Government of North Korea
* Supreme Leader of North Korea
* Heads of state of North Korea
* Premier of North Korea
* Human rights in North Korea
* Korean People's Army
* Politics of North Korea
* Elections in North Korea
* Politics of North Korea#Political parties and elections
* Workers' Party of Korea
* General Secretary
* Politburo
* Secretariat
* Juche
* State Affairs Commission of North Korea
* President of State Affairs
* North Korea and weapons of mass destruction
* Supreme People's Assembly

|

South Korea|

* Constitution of South Korea
* Foreign relations of South Korea
* Relations with North Korea
* Government of South Korea
* President of South Korea
* Prime Minister of South Korea
* Human rights in South Korea
* Republic of Korea Armed Forces
* Politics of South Korea
* Elections in South Korea
* Presidential elections in South Korea
* Legislative elections in South Korea
* List of political parties in South Korea
* South Korea and weapons of mass destruction
* National Assembly (South Korea)
* Judiciary of South Korea
* Supreme Court of Korea
* Constitutional Court of Korea

Economy

| Economy of North Korea|

* Automotive industry in North Korea
* Energy in North Korea
* Telecommunications in North Korea
* Tourism in North Korea
* Transport in North Korea
* North Korean won (currency)
* Agriculture in North Korea
* North Korean famine
* Jangmadang
* Mining in North Korea
* Rason Special Economic Zone

|

Economy of South Korea|

* Automotive industry in South Korea
* Economic inequality in South Korea
* Energy in South Korea
* Telecommunications in South Korea
* Tourism in South Korea
* Transport in South Korea
* South Korean won (currency)
* Chaebol
* Financial services in South Korea
* Fishing industry in South Korea
* Miracle on the Han River
* Science and technology in South Korea
* Squatting in South Korea
* Trade unions in South Korea
* 1997 Asian financial crisis

Demographics

* Koreans
* Demographics of North Korea
* Demographics of South Korea
* Aging of South Korea
* Gender inequality in South Korea
* Low birth rate in South Korea
* International adoption of South Korean children
* Koreatown
* Korean language
* Hangul
* Hanja
* Korean name

Culture of Korea

| General|

* Cinema of Korea
* Korean cuisine
* Globalization in South Korea
* Korean martial arts
* Korean mythology
* Korean philosophy
* Religion in Korea
* Ssireum (wrestling)
* Korean sword
* Korean tea ceremony
* Tattooing in South Korea

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Korean art|

* Korean architecture
* Korean calligraphy
* Korean drama
* Korean literature
* Traditional music of Korea
* Korean painting
* Korean pottery and porcelain

Culture of North Korea|

* Education in North Korea
* Religion in North Korea
* Smoking in North Korea
* Sport in North Korea
* Arirang Festival
* Juche
* Propaganda in North Korea

Culture of South Korea|

* Education in South Korea
* Religion in South Korea
* Smoking in South Korea
* Sport in South Korea
* Cultural icons
* Korean Wave
* K-pop
* Marriage in South Korea
* Media of South Korea
* Sexuality in South Korea

## References[edit]

1. ^ "Banking Regulation in South Korea: Overview". Practical Law. Retrieved 2023-03-28.
2. ^ SNUgle-i. "Open a Bank Account - Guide for Living in Korea". SNUgle-i. Retrieved 2023-03-28.

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