Are Korean Savings Banks Protected?
Korean savings banks are covered by the same KRW 100 million deposit protection as banks.
Deposits
Deposits
Guides on Korean time deposits. We work through the 15.4% withholding tax and what you actually receive by principal, how to split funds above the KRW 100 million protection ceiling, and how to match maturities for money with a known spend date. Every advertised rate is quoted before tax, so converting to after-tax is where the real return shows.
Deposits
Korea’s KRW 20M Financial Income Threshold
Crossing Korea’s comprehensive taxation threshold for interest and dividends does not necessarily increase
Deposits
Money You Need Back in Two or Three Months
Jeonse deposits, moving costs and other funds with a known spend date need a different approach.
Deposits
Korea’s Deposit Protection Now KRW 100M
Korea’s deposit protection limit doubled from KRW 50,000,000 to KRW 100,000,000, effective 1 September 2025.
Deposits
Tax on Deposit Interest in Korea: 15.4%
Interest earned on Korean deposits and savings accounts is taxed at 15.4%.