Five big banks plan to shut down a total of more than 100 branches next year as consumers increasingly opt to do their banking online.


According to industry sources, Woori Bank plans to close up to 40 of its 958 branches. NH Nonghyup is preparing to shut 20 branches, but will open 10 at new locations.


The nation's biggest lender, KB Kookmin Bank, plans to close 23 branches, while Shinhan Bank and KEB Hana Bank will close an undisclosed number of branches.

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