Korean Banks Preparing New Strategies Against Foreign Banks

Korean banks are busy preparing a new style of operating strategy ahead of the entrance of foreign banks including HSBC(Hong Kong Shanghai Banking Corporation) which recently acquired Seoul Bank.
Kookmin Bank will conduct a workshop to develop new strategies for two days and one night from March 20 at its Ilsan Training Center.
Shinhan Bank recently made a report to strengthen its credit and loan system for customers as well as a marketing campaign to attract prime customers. It is considering several strategic partnerships with other securities firms, investment trust companies, and insurance companies.
The Housing & Commercial Bank held a workshop on March 13~14 and issued a report that calls for the reinforcement of credit card businesses and housing retail finance businesses. It cited HSBC as its main competitor.
Koram Bank feels it is necessary to strengthen operations directed at small and medium-sized companies and electronic banking.
Hyeong Ki Kim: myriad@joongang.co.kr