Banking industry in South Korea - statistics & facts
South Korea is known for its well-developed financial system, which has undergone remarkable quantitative and qualitative development after the 1997 Asian financial crisis. Bank consolidation in the early 2000s and the subsequent rise of financial holding companies were accompanied by significant growth in banks' total assets and numbers of employees. The further opening of the financial sector has also attracted more and more foreign investors and financial institutions to the country. Moreover, the financial soundness of South Korean banks, as measured by the capital adequacy ratio (CAR), has steadily improved.
