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Retail Banking
Staff Reporter
,South Korea
Published:
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The number of foreign banking customers have breached 8 million in 2024.,
South Korean banks will offer English mobile applications and documents for foreign residents in 2025.
Local banks plan to offer English versions of their app, as well as English documents needed for banking services, reports Yonhap News Agency, based on a statement by the Financial Supervisory Service (FSS).
This comes as the number of foreign customers at local banks rose to 8.13 million in 2024, rising from 7.76 million in 2023.
The banks will also reportedly allow more letters for names and others to be filled in by foreign customers needed for identification authentication. The number of letters is set at 20.
Local banks plan to provide more details of foreign customer-customized branches on their websites as well as more information for loans and interest rates for foreign customers.
(Original report by Park Sang-soo of YNA)
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