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.
- 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.