Key conclusions
- 1Finance emerges as a core Korean service sector in Vietnam
- 2Shinhan, Woori, KB and Lotte Finance expand into retail and consumer finance
Impact on Korean companies — Demand for bilingual talent, fintech, and legal/accounting and distribution partnerships.
Contents
Finance that followed FDI
Alongside the manufacturing-FDI wave, Korean banks and finance firms followed their customers into Vietnam, making finance a core Korean service sector.
The leading players
- Shinhan Bank Vietnam: one of the largest foreign banks, with a wide branch network.
- Woori Bank and KB Kookmin: expanding fast in corporate and retail.
- Lotte Finance and Shinhan Card: consumer finance, cards and installment lending.
Why Korean banks came to Vietnam
Korean banks first serve the Korean corporate value chain (Samsung, LG and suppliers) for payments, credit and FX, then expand to Vietnamese retail and consumer-finance customers.
What it means for Korean companies
There is demand for bilingual talent, fintech, and legal/accounting and distribution partnerships. For provincial sites, see the entry map .
Opportunities
- Fintech and payments partnerships
- Professional services such as legal and accounting
- Bilingual financial-talent and recruitment
Risks
- Financial regulation and licensing barriers
- Intense retail-finance competition
Recommended actions
- Map the needs of Korean financial firms’ value chains
- Check financial-license and regulatory requirements
- Confirm entry requirements via KOTRA
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Sources & methodology
This content is reference material reconstructed from public reporting and institutional information for a Korean-business audience; it is not investment or legal advice. Please verify through official channels such as KOTRA before making decisions.
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