According to the financial sector on the 27th, JB Financial Group, which owns Gwangju Bank and Jeonbuk Bank, will introduce "Bravo Korea" (tentative name), a comprehensive living platform for foreigners, for the first time in Korean financial companies in April. The platform provides comprehensive financial services and living information for foreigners residing in Korea.
On this platform, foreigners can use financial services such as account inquiry, deposit and installment savings subscription, and loan application, as well as various living information such as visa-related services, Korean language education, finding residential facilities, and job openings and job search. JB Financial aims to secure 500,000 subscribers for one year after its launch. JB Financial Group has also started hiring foreign employees to expand financial services for foreigners. Jeonbuk Bank recently hired foreign intern employees, and is also considering converting them to regular workers as it expands the scale of hiring foreign employees.
BNK Financial Group, the same local financial company, is also trying to attract foreign customers by operating windows exclusively for foreign workers at Busan Bank and Gyeongnam Bank.
Major commercial banks are also diversifying their targeting of foreigners and foreign corporations. The number of foreign customers at the four major banks, which was less than 5.4 million as of the end of 2022, surpassed 6 million as of the end of February 2025, accelerating the movement as market expansion became visible.
Shinhan Bank will open its foreign-focused branches that provide counseling and financial services to foreign customers based on video, starting with Gimhae last year. Shinhan Bank released a "SOL Global Check Card" in September last year that allows users to open accounts and issue debit cards at the same time in a non-face-to-face manner, and more than 20,000 copies were issued as of the end of January this year. Hana Bank simplified the issuance of corporate cards by foreign companies with high barriers. In the case of foreign-invested companies, credit limits were granted through screening so that corporate cards could be issued. It is considering launching a small emergency loan product for foreigners.
Woori Bank is preparing a one-stop support plan for foreigners if they want to invest in domestic real estate. It provides services such as foreign exchange reporting, sales introduction and brokerage, tax counseling, and registration necessary for foreigners to acquire real estate. It is scheduled to be carried out through Woori Bank's Global Investment WON Center, and two Gangnam and Gwanghwamun centers are currently in operation.
[Reporter Park Na Eun / Reporter Park Inhye]
