Banks in South Korea

Key Highlights

• Banking industry involves the activities of banks and similar institutions that offer financial services such as savings, loans, mortgages, and related services to businesses and consumers. Market value represents the total assets held by banks or related institutions in a country in a year. The market share represents the total asset held by the companies in the specific year. Geographical segmentation measures the total assets held by commercial banks of a particular region.
• The South Korean banking industry recorded assets of $4.27 trillion in 2024, representing a compound annual growth rate (CAGR) of 4.9% between 2019 and 2024.
• The bank credit segment accounted for the industry's largest proportion in 2024, with total assets of $2.45 trillion, equivalent to 57.4% of the industry's overall value.
• The South Korean banking industry grew by 4.7% in 2024, primarily driven by the decline in bank lending rates, which reduces borrowing costs and encourages greater credit uptake. Lower lending rates stimulate demand for personal and business loans, leading to an expansion in the bank credit segment, which directly increases the total assets held by banks. According to the Bank of Korea, the Bank Lending Rate was reduced to 4.6% in December 2024, down from 5.1% in December 2023, facilitating broader access to credit.

Scope

• Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the banks market in South Korea
• Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the banks market in South Korea
• Leading company profiles reveal details of key banks market players’ global operations and financial performance
• Add weight to presentations and pitches by understanding the future growth prospects of the South Korea banks market with five year forecasts

Reasons to Buy

• What was the size of the South Korea banks market by value in 2024?
• What will be the size of the South Korea banks market in 2029?
• What factors are affecting the strength of competition in the South Korea banks market?
• How has the market performed over the last five years?
• What are the main segments that make up South Korea's banks market?