On April 1st of last year, Choheung Bank, which boasts 109 years of tradition, and Shinhan Bank, renowned for its dynamism, were joined into one, and the newly integrated Shinhan Bank was successfully launched.
Hana Bank is a subsidiary Hana Financial Group Inc. The group is the 3rd largest commercial banking group in South Korea (after Kookmin Bank and Woori Bank). Hana Bank is the third largest bank by asset value in South Korea.
Kookmin Bank (KB) is the largest bank by both asset value and market capitalization in South Korea. Kookmin intended to takeover Korea Exchange Bank, a government-owned bank with offices in foreign countries, by the end of 2006, to facilitate foreign exchange and corporate banking (as in contrast Kookmin is more well known for its consumer banking services). The deal to buy Korea Exchange Bank was contingent on not finding any evidence of criminality when the Loan Star Equity Funds purchased Korea Exchange Bank in 2003. However as of December 2006, the takeover will not happen having been cancelled by Lone Star.
On April 1st of last year, Choheung Bank, which boasts 109 years of tradition, and Shinhan Bank, renowned for its dynamism, were joined into one, and the newly integrated Shinhan Bank was successfully launched.
Woori Bank is the second largest commercial bank in Korea. The bank changed its name in 2002, and includes the former Commercial Bank of Korea, Hanil Bank, and Peace Bank. The Bank is a part of the Woori Financial Group. In May 2009, Woori Bank became the first Korean bank to issue UnionPay debit cards in China.
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