South Korea’s banking sector has not had an easy 12 months. Banking scandals, excess liquidity and the withdrawal of big foreign names, such as HSBC and Standard Chartered, from the country's retail banking market have made for a bumpy ride. The Japanese yen’s depreciation has also damaged the country's exporters this year and, in turn, the banks servicing them.
The largest South Korean banks – both private and public – are navigating these difficult times by upgrading their retail business at home and by expanding internationally. Smaller, regional banks, which have largely avoided the scandals that have dogged their larger rivals, are also growing quickly and venturing abroad.
