July 28, 2014 10:50
Japanese financial firms have expanded their presence in the Korean market. Recent data show Japanese lenders and savings banks now take up more than 55 percent and 15 percent of market share here, respectively.
In the past, Japanese capital came in to the domestic market through private lenders such as Apro Service Group's Rush & Cash. But starting in 2011, Japan began acquiring local savings banks hit by the global financial crisis.
The Korean market has been a good place for Japanese banks to improve profit margins since savings banks offer lower procurement interest rates than most lenders.
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