Financial industry in South Korea - statistics & facts
South Korea has one of the most developed financial systems in the world, which has undergone remarkable development since the 1997 Asian financial crisis. Although the outbreak of the COVID-19 pandemic led to an initial economic downturn in 2020, South Korea’s financial system has proven stable and resilient during this period.
While South Korea's financial system has experienced increased volatility recently due to rising domestic and global uncertainties, it remains generally stable, reflecting the strong resilience of financial institutions.
