Jeju Bank
Regional commercial bank providing comprehensive financial services.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | KRW57.0b Valuation: KRW380.3b | Growth Equity non VC | |
| Total Funding | 000k | ||
Jeju Bank is a South Korean commercial bank established in 1969 by founder Kim Bong-hak, with contributions from Korean residents in Japan. For over five decades, the bank has been integral to the economic development of the Jeju region, establishing a significant branch network and serving as a local community bank. The company was listed on the stock exchange in 1972.
Following the 1997 foreign exchange crisis, Jeju Bank underwent management improvement measures and received an injection of public funds from the Korea Deposit Insurance Corporation. In May 2002, it was incorporated as a subsidiary of Shinhan Financial Group, a move intended to blend its localized management with Shinhan's more advanced systems. This integration allows Jeju Bank to leverage Shinhan's customer care, management systems, and business models while maintaining its regional focus.
The bank offers a wide array of financial products and services, including various deposit accounts, corporate and private loans, credit cards, foreign exchange, international finance, insurance, trust and fund products, and retirement pensions. Its business model centers on generating revenue from these core banking activities. Primarily serving the domestic market on Jeju Island, the bank also maintains a presence in Seoul and Busan. As of April 2025, Shinhan Financial Group's ownership stake was 64.01% after Jeju Bank issued new shares to DOUZONE BIZON Co., Ltd., a strategic partner for a new ERP banking initiative. This partnership aims to integrate financial services with Enterprise Resource Planning (ERP) systems, allowing for customized financial products based on real-time corporate data. The bank plans to expand its services to small and medium-sized enterprises (SMEs) outside of Jeju Island, with a goal of becoming a specialized bank for SMEs by 2027.
Keywords: regional banking, commercial banking, financial services, corporate loans, private loans, asset management, foreign exchange, credit cards, retirement pensions, Jeju Island, Shinhan Financial Group, SME banking, ERP banking, deposit products, community bank, South Korea finance, trade finance, retail banking, internet banking, trust services