banking.foundation / Regulation / South Korea
Jurisdiction · KRW · Bank of Korea
South Korea
A highly digital banking market where real-time interbank transfers have been standard for decades via KFTC networks. Internet-only banks such as KakaoBank and Toss Bank have won mass retail adoption.
- Currency
- KRW
- Central bank
- Bank of Korea
- Key regulators
- FSC · FSS
- Deposit insurance
- KDIC, ₩100 million (raised from ₩50 million in 2025)
- Open banking regime
- KFTC Open Banking (since 2019) + MyData
- Instant payments
- KFTC real-time interbank transfers
- Primary source
- www.bok.or.kr (central bank)
Regulators
None in covered set
Providers headquartered here
None in covered set
Covered banks — South Korea
| Bank | Type | Regulator | Assets ≈ |
|---|---|---|---|
| KakaoBankSeongnam | Digital | FSC / FSS (Korea) | — |
Approximate reference data from public sources · seed-0.1 · 2026-08-28 · not real-time, not advice. See data & methodology.
# this page as data
GET https://banking.foundation/api/v1/countries/south-korea