Korean banks have been bolstering their services for foreign customers to capitalize on the rising non-Korean population, which is estimated to have reached 1.1 million people, around 2 percent of the population. About 40 percent are Chinese-Koreans and 75 percent of the total work with a regular salary and visa.
The move comes as major local lenders are starting to change their attitude toward expats as they have seen the opportunity for this niche market growing, with the influx of educated and high-salaried foreigners over the past years.
