Summary
Banks in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value 2019-24, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
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 $4,270.2 billion 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 $2,450.2 billion, 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?
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Table of Contents
1 Executive Summary
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive landscape
2 Market Overview
2.1. Market definition
2.2. Market analysis
3 Market Data
3.1. Market value
4 Market Segmentation
4.1. Category segmentation
4.2. Geography segmentation
5 Market Outlook
5.1. Market value forecast
6 Five Forces Analysis
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 Competitive Landscape
7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do the leading players follow?
7.4. What have been the most recent market developments?
8 Company Profiles
8.1. Hana Financial Group Inc
8.2. KB Kookmin Bank
8.3. Shinhan Financial Group Co Ltd
8.4. Woori Financial Group Inc
9 Macroeconomic Indicators
9.1. Country data
10 Appendix
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
List of Tables
Table 1: South Korea banks industry value: $ billion, 2019-24
Table 2: South Korea banks industry category segmentation: % share, by value, 2019-24
Table 3: South Korea banks industry category segmentation: $ billion, 2019-24
Table 4: South Korea banks industry geography segmentation: $ billion, 2024
Table 5: South Korea banks industry value forecast: $ billion, 2024-29
Table 6: South Korea banks industry share: % share, by value, 2024
Table 7: Hana Financial Group Inc: Key Facts
Table 8: Hana Financial Group Inc: Annual Financial Ratios
Table 9: Hana Financial Group Inc: Key Employees
Table 10: Hana Financial Group Inc: Key Employees Continued
Table 11: KB Kookmin Bank: Key Facts
Table 12: Shinhan Financial Group Co Ltd: Key Facts
Table 13: Shinhan Financial Group Co Ltd: Annual Financial Ratios
Table 14: Shinhan Financial Group Co Ltd: Key Employees
Table 15: Woori Financial Group Inc: Key Facts
Table 16: Woori Financial Group Inc: Annual Financial Ratios
Table 17: Woori Financial Group Inc: Key Employees
Table 18: South Korea Exchange Rate, 2019-24
List of Figures
Figure 1: South Korea banks industry value: $ billion, 2019-24
Figure 2: South Korea banks industry category segmentation: $ billion, 2019-24
Figure 3: South Korea banks industry geography segmentation: % share, by value, 2024
Figure 4: South Korea banks industry value forecast: $ billion, 2024-29
Figure 5: Forces driving competition in the banks industry in South Korea, 2024
Figure 6: Drivers of buyer power in the banks industry in South Korea, 2024
Figure 7: Drivers of supplier power in the banks industry in South Korea, 2024
Figure 8: Factors influencing the likelihood of new entrants in the banks industry in South Korea, 2024
Figure 9: Factors influencing the threat of substitutes in the banks industry in South Korea, 2024
Figure 10: Drivers of degree of rivalry in the banks industry in South Korea, 2024
Figure 11: South Korea banks industry share: % share, by value, 2024
