Financial services in

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korean Peninsula and sharing a land border with North Korea. Its western border is formed by the Yellow Sea, while its eas ...

refers to the services provided in ROK by the finance industry:

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

investment bank Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing i ...

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

companies,

credit card A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the o ...

companies, consumer finance companies,

government sponsored enterprise A government-sponsored enterprise (GSE) is a type of financial services corporation created by the United States Congress. Their intended function is to enhance the flow of credit to targeted sectors of the economy, to make those segments of the ...

s, and stock brokerages.

Foreign banks

Foreign banks ( Citibank, HSBC,

Deutsche Bank Deutsche Bank AG (), sometimes referred to simply as Deutsche, is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Sto ...

, etc.) which have a presence in ROK are not international branches, but rather wholly Korean entities, due to Korean law.

International ATMs

Korean citizens may apply for an international

ATM card An ATM card is a payment card or dedicated payment card issued by a financial institution (i.e. a bank) which enables a customer to access their financial accounts via its and others' automated teller machines (ATMs) and to make approved point of ...

corresponding to an interbank network such as

Cirrus Cirrus may refer to: Science *Cirrus (biology), any of various thin, thread-like structures on the body of an animal *Cirrus (botany), a tendril * Infrared cirrus, in astronomy, filamentary structures seen in infrared light *Cirrus cloud, a typ ...

PLUS Plus may refer to: Mathematics * Addition * +, the mathematical sign Music * ''+'' (Ed Sheeran album), (pronounced "plus"), 2011 * ''Plus'' (Cannonball Adderley Quintet album), 1961 * ''Plus'' (Matt Nathanson EP), 2003 * ''Plus'' (Martin Ga ...

, but foreign residents may not. Foreign residents in ROK, however, ''may'' use such interbank networks at ATMs in ROK through ATM cards procured in foreign countries. Interbank ATMs are common throughout the country, especially in densely populated

urban areas An urban area, built-up area or urban agglomeration is a human settlement with a high population density and infrastructure of built environment. Urban areas are created through urbanization and are categorized by urban morphology as cities, ...

such as

Seoul Seoul (; ; ), officially known as the Seoul Special City, is the capital and largest metropolis of South Korea.Before 1972, Seoul was the ''de jure'' capital of the Democratic People's Republic of Korea (North Korea) as stated iArticle 103 of ...

Foreign banks

International ATMs

See also