This article is by Yoon Seung-jin and read by an artificial voice.



As more foreign residents settle in Korea, their growing economic presence is reshaping how banks do business, prompting them to roll out more banking services targeting expatriates.

Bank of Korea data show that the number of foreign customers at domestic banks was 8.13 million as of last year, a 13.87 percent jump from the 2021 figure of 7.14 million, while their card spending reached a record high in the second quarter of 2025, surging 38.2 percent from the previous quarter.

In response to the growing demand from foreign customers, domestic banks are actively expanding beyond traditional financial services to offer loan products, foreign customer-friendly lounges and everyday support, ranging from job hunting to education.



Shinhan Bank's SOL Global Loan and Lounge

Shinhan Bank operates 78 digital lounges designed exclusively for foreigners.

The lounges are equipped with digital desks and smart kiosks, enabling visitors to open accounts, issue bank cards and obtain English deposit balance certificates through video consultations with staff in 10 languages, including Vietnamese, Indonesian, Chinese and English.

The most recent foreigner-only digital lounge opened on Sept. 22 at the Jeonnam Immigration and Foreign Residents Support Center in Yeongam, South Jeolla.

According to Shinhan Bank's press release, the bank also plans to use these lounges in foreign worker communities to host cultural exchange events, provide tailored financial consultations and run financial education programs to strengthen ties with local communities.

Shinhan Bank also rolled out the SOL Global Loan on Sept. 30, a lending product designed exclusively for expatriates. The loan provides up to 20 million won ($14,269), with repayment terms ranging from six to 36 months. Interest rates range from 9.71 to 11.72 percent.

Applicants must have worked in Korea for at least three months, hold E-9, E-7, F-2 or F-5 visas and have more than six months remaining on their legal stay. Applications can be completed via the Shinhan SOL Bank mobile app or in person at a Shinhan branch.



Woori Bank's Global Lounge and Woori WON Global

Woori Bank is also preparing to open its inaugural foreign-specialized digital lounge in October at the bank's Chuanso Financial Center in Incheon.

The center will feature a premium lounge for foreign customers as well as a digital finance experience zone. The facility will provide not only financial services but also a nonfinancial resting space for foreign residents. The lounge is scheduled to open on Oct. 24 and will operate until April 19, 2026.

The project, budgeted at 750 million won, is part of Woori Bank's broader strategy to provide services tailored to foreign customers with an emphasis on lifestyle and community support, according to a Woori Bank spokesperson.

To support foreign customers by providing convenient banking services on weekends, the bank will open the lounge on Sundays as well. Through the bank's mobile website, customers can reserve a visit, select a date and indicate their financial needs.

In addition, Woori Bank also runs Global Desks, dedicated counters for foreign customers that provide customized financial services. In April this year, four new Global Desks were added at branches in Cheonan, Incheon Port, Yeonsu-dong and Dongpyeongtaek, bringing the total number of branches offering the service to 12.

Woori Bank has enhanced its Woori WON Global app through a partnership with Korea JoongAng Daily's K-campus, a platform that provides information about campus life and careers in Korea. The collaboration allows international students access to job postings, campus news and firsthand accounts of student life in Korea within the app's International Student Community section.

Woori WON Global, available in 17 languages, already enables users to transfer money and open bank accounts. It also offers services such as Topik lectures and insurance reg...