Banking in Korea is becoming increasingly more effortless as the commercial South Korea banks and the international bank in Korea stabilize and reach out to foreign investors. Many banks in Korea have offices throughout Europe and the America’s. It can be much easier to do business globally when you established foreign currency accounts. Korea banks can help you or company do that.

Korean banks offer personal loan and investment opportunities as well as international trade financing and foreign exchange services. Developing a relationship with a Korean investment bank can be a source of commercial financing for your global trade initiatives. Since the late 1970's, banks in Korea have worked diligently to encourage economic growth in their country and facilitate international commerce.

1. Engage a consultant to help you begin doing banking in Korea

2. Finance a trade project through commercial South Korea banks

3. Establish a line of credit with a Korean investment bank

Action Steps
The best contacts and resources to help you get it done

Get through the rules and regulations governing Korean banking

Besides a language barrier, American business people and financiers who want to step into the global financial arena have much to learn. It helps to have an experienced firm that can help you navigate through the rules and regulations of a system such as the banks in South Korea.

I recommend: Industrial Research Consultants is a Seoul-based consultancy that advises investors through their market entry into Korean banking. i-Group, Inc. is a consultant firm in Korea with a wide range of financial experience in Korea banks in areas such as mergers and acquisitions, real estate, marketing and e-commerce.

Take the plunge with a project using banks of Korea

Once you've established a course for your business to begin moving to a global market, contact an international bank in Korea to secure financing for a simple project. You may want to set up a line of credit to purchase goods or build a hotel in Korea. You can find banks in Korea to work with you.

I recommend: Khumo Investment Bank specializes in short-term loans for projects and other short-term financing vehicles. HSBC is one of the world’s largest banks that is headquartered in Korea. With all their international expertise, you can smoothly make a transition to Korean banks for your project.

Diversify your portfolio with personal investments at a bank in Korea

While you begin to move your company through the global marketplace, you may want to consider some personal investment in the local economies through banks of Korea. You can often get higher interest rates and better terms through Korean banking institutions that often offer very low or non-existent fees for services.

I recommend: The Bank of Korea has worked to provide a stable financial position in the world, so it is a safe place for foreign investors looking to diversify globally. The Korean Exchange Bank is working to encourage foreign investment through an updated Internet banking system.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  When you begin to diversify globally, consider spreading out the wealth between a foreign bank in Korea along with European investments. Prepare for downswings in one economy by hedging your investments in multiple banking markets.