Taiwan’s Financial Powerhouse Makes Its Mark in Korea: Fubon Bank Launches New Office

Taipei Fubon Bank has officially launched its first representative office in Seoul, advancing the group’s push to expand across the Asia-Pacific region.

Fubon Financial Holding, the bank’s parent company, announced Tuesday that the office opened its doors in Yeouido, Seoul’s financial district in Yeongdeungpo-gu, last Friday. This move establishes Fubon as the second Taiwanese bank to gain a foothold in South Korea.

Fubon Financial, Taiwan’s largest financial conglomerate by market capitalization, is valued at approximately NT$1.2 trillion ($41.3 billion). This impressive figure surpasses the market cap of Korea’s leading financial group, KB Financial Group, which stands at about 45 trillion KRW ($33 billion).

“South Korea, as a major Asian economy, has demonstrated remarkable growth potential in technological innovation and manufacturing,” Tim Kuo, president of Taipei Fubon Bank, stated. He added that the increasing trade between Taiwan and South Korea is expected to create promising business opportunities.

“Our group’s local resources will enable the Seoul office to identify market opportunities,” Kuo explained. “Taipei Fubon Bank will also collaborate with other companies to build a strong foundation for Fubon’s long-term growth in Asia.”

With Seoul serving as a strategic foothold, the Taiwanese lender aims to strengthen its presence across the Asia-Pacific region and expand its global network. This move is designed to support the cross-border growth of Taiwanese businesses.

In its initial phase, the bank plans to focus on market research and cultivating local business relationships. This approach will lay the groundwork for a targeted strategy to enhance Taipei Fubon Bank’s services in the broader Asian market.

Fubon Group already maintains a presence in South Korea through its insurance arm, Fubon Hyundai Life Insurance. The group also holds investments in Woori Financial Group and Hyundai Card.

On a global scale, the group operates one subsidiary bank, five branches, and three representative offices across the Asia-Pacific region. Looking ahead, Fubon plans to open a branch in Sydney in the fourth quarter, with additional branches in Tokyo and India also in the pipeline.