Korea Development Bank (KDB산업은행) is a government-run bank in Korea.

This bank is specialised for investment, corporate banking, and restructuring. In plain words, if a big company in Korea is about to die, KDB buys it, cleans its mess and trouble, and gives it a rebirth. Shinhan Card(Former LG Card) was brought back by this bank.

They also offer retail banking, but it's not popular in Korea. Not just for foreigners, also for Koreans. Some people say this bank is the most underrated bank in Korea.

About account plans of KDB

They have only a few branches around the country. Hence, they waive service fees a lot.

You can freely withdraw your money at any ATM, even it's in C-Store, hypermarket or subway station, if applicable.

About card products of KDB

Since they're not permitted to issue a credit card by themselves, you can get their check cards. Samsung card issues a co-branded credit card for KDB customers.

If you open an account from them, you'll get KDB Choice check card. You can apply for KDB산업은행체크카드 online.

I recommend this bank to you because ...

  • This bank provides free internet banking to all their customers. (Free interbank transfers for 1000 times a month)
  • This bank provides free SMS deposit/withdrawal alerts to all their customers.
  • You can withdraw or transfer money from your KDB account freely at any ATM if applicable.
  • You can use your KDB account freely at Postbank ATMs and Wooribank ATMs.
  • Korean government owns this bank.

Trivia

  • The bank has its own university in Korea, named "KDB금융대학교"(KDB Financial University). But it's only for their employees and of course, they're not accepting international students.
  • In 2008, this bank tried to take over Lehman Brothers, a former investment bank of the United States.
  • This bank was about to be privatised since 2012, so they launched retail banking products with free transactions to attract personal banking customers. But now the privatisation plan is cancelled and they're providing retail banking service as a public service.

Category
국책은행(Government-owned bank)
KFTC Network ID
002
SWIFT Code / BIC
KODBKRSE
Telephone number
1588-1500
Telephone number (Overseas)
+82-2-1588-1500
Website
https://www.kdb.co.kr/

수신/이체 관련 수수료(Basic banking fees/Local transfer fees)

Subject Fee Note
Monthly service fee Always free
Online, smartphone transfer to KDB산업은행 account Always free It's always free regardless of account holders and branches.
Online, smartphone interbank transfer Free for the first 1000 transfers in a month, then 500 KRW
Automatic interbank transfer Free for the first 100 transfers in a month, then 300 KRW

카드 관련 수수료(Card fees)

Subject Fee Note
Issuance of an ATM access card Free for the first issuance, then 1,000 KRW
Issuance of a check card Always free

전신료(Telegraphic fee)

Channel Fee
  5,000 KRW

송금수수료(당발송금, Outgoing transfers fee)

Target Channel Corresponding amount of money Fee
국외(International)   0.05% (Min 5,000 KRW ~ Max 20,000 KRW)

수취수수료(타발송금, Incoming transfers fee)

Target Channel Corresponding amount of money Fee
국외(International)   10,000 KRW