South Korean banks intensify London expansion amid new strategic initiatives

South Korea’s leading banks are strengthening their presence in London through new branches, enhanced operations, and strategic partnerships, leveraging the city’s position as a gateway to untapped markets across Europe, the Middle East, and Africa.

South Korea’s leading banks are intensifying their efforts to solidify their presence in London, leveraging the city’s strategic position as a gateway to the relatively untapped markets of Europe, the Middle East, and Africa (EMEA). Despite challenges to London’s status as a preeminent global financial hub following Brexit, South Korean lenders remain confident in the long-term opportunities afforded by the city’s geographic and financial significance.

Notably, NongHyup Bank has inaugurated its first European branch in London after securing regulatory approval earlier this year. This move marks a significant milestone for the bank as it seeks to establish a firm foothold in the European market. According to a bank spokesperson, the new London branch is designed to serve as a strategic hub for expanding its global investment banking, bond issuance, and environmental, social, and governance (ESG) finance initiatives. The bank also emphasised its commitment to building stable infrastructure and systems to support sustainable growth through this expansion.

Parallel to NongHyup’s expansion, Shinhan Bank has been actively enhancing its operational capabilities in London. Earlier this year, Shinhan launched a Global Capital Markets Desk at its London branch, further supplemented by gaining a license to sell derivatives—a key step that increases its ability to compete in complex financial markets. Additionally, Shinhan’s London branch relocated to a new premises and forged a strategic partnership with the Africa Finance Corporation, underscoring its ambitions to facilitate Korean companies’ access to African infrastructure projects in sectors like energy, transportation, and digital development. A Shinhan official highlighted the branch’s role as a vital hub integrating finance with innovation, ideally positioned to boost global competitiveness.

Other major South Korean banks such as KB Kookmin, Hana, and Woori Bank also maintain a strong presence in London, focusing on services including corporate lending, investment banking, securities, and currency exchanges. Woori Bank, for example, is set to open a London Trading Center in the latter half of this year, expanding on its recently established foreign exchange desk.

These concerted efforts align with broader government strategies to deepen South Korea’s engagement with international financial markets. Last year, authorities extended foreign exchange trading hours to 2 a.m. to overlap with key London market hours, and dispatched personnel to London to bolster real-time monitoring capabilities.

The commitment from South Korea’s banking leadership to this strategy is evident in recent visits by top executives to their London branches. CEOs from KB Kookmin Bank, Hana Bank, and Woori Bank made trips to London earlier this year following the Asian Development Bank meeting in Milan, while Shinhan Bank’s CEO Jung Sang-hyuk and NongHyup’s CEO Kang Tae-young visited their respective branches more recently. These visits underscore the importance South Korea places on the London market as a springboard for extending its financial sector’s global reach.

In summary, South Korean banks are investing heavily in London to capitalise on its entrenched position as a financial nexus connecting Europe, Africa, and the Middle East. These expansions are designed not only to boost traditional banking operations but also to integrate ESG finance and infrastructure investment, positioning these institutions at the forefront of evolving global markets.

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Source: Noah Wire Services

Noah Fact Check Pro

The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.

Freshness check

Score:
8

Notes:
The narrative presents recent developments, including NH NongHyup Bank’s London branch opening on September 5, 2025, and Shinhan Bank’s London branch relocation on July 21, 2025. These events are corroborated by multiple reputable sources. However, the article references earlier events, such as NH NongHyup Bank’s London office opening in August 2021, which may affect the overall freshness score. Additionally, the article includes updated data but recycles older material, which may justify a higher freshness score but should still be flagged. ([cm.asiae.co.kr](https://cm.asiae.co.kr/en/article/2025090710053039126?utm_source=openai))

Quotes check

Score:
9

Notes:
The article includes direct quotes from bank executives and officials, such as NH NongHyup Bank CEO Kang Taeyoung and Shinhan Bank CEO Jung Sang-hyeok. These quotes are consistent with statements found in reputable sources, indicating originality. ([cm.asiae.co.kr](https://cm.asiae.co.kr/en/article/2025082716073005315?utm_source=openai))

Source reliability

Score:
9

Notes:
The narrative originates from The Korea Herald, a reputable South Korean news outlet. The article is well-sourced, referencing multiple reputable sources, including The Korea Times and Asia Business Daily. This enhances the credibility of the information presented. ([koreatimes.co.kr](https://www.koreatimes.co.kr/business/banking-finance/20250907/nh-nonghyup-bank-opens-1st-european-branch-to-boost-global-biz?utm_source=openai))

Plausability check

Score:
8

Notes:
The claims about South Korean banks expanding operations in London are plausible and supported by recent developments. The article provides specific details, such as the opening dates of NH NongHyup Bank’s London branch and Shinhan Bank’s London branch relocation, which are consistent with information from reputable sources. However, the inclusion of earlier events, such as NH NongHyup Bank’s London office opening in August 2021, may affect the overall plausibility score. ([cm.asiae.co.kr](https://cm.asiae.co.kr/en/article/2025090710053039126?utm_source=openai))

Overall assessment

Verdict (FAIL, OPEN, PASS): PASS

Confidence (LOW, MEDIUM, HIGH): HIGH

Summary:
The narrative presents recent developments regarding South Korean banks expanding operations in London, supported by information from reputable sources. While earlier events are referenced, the inclusion of updated data justifies a higher freshness score. The quotes are consistent with statements from bank executives, indicating originality. The source, The Korea Herald, is reputable, and the claims are plausible and well-supported.