What Is the Outcome of the Fierce Old Custody Battle Between Shinhan Bank and Woori Bank?

As Seoul's 25 Districts' Custodian Banks Selection Reaches Midpoint, Intense Competition Between Shinhan and Woori Banks; Shinhan Bank Recaptures Eunpyeong and Guro Districts, Woori Bank Reclaims Yongsan District... KB Leads in Nowon and Dobong Districts

[Asia Economy Reporter Jong-il Park] The battle for selecting district treasury banks in Seoul's autonomous districts is reaching its midpoint, intensifying into a fierce war of taking and retaking.

2 to 1. This is the current score between Shinhan Bank and Woori Bank.

Shinhan Bank has taken over two district treasuries (Eunpyeong-gu, Guro-gu) from Woori Bank, while Woori Bank has taken one district treasury (Yongsan-gu) from Shinhan Bank.

It looks like a battlefield of tit-for-tat.

Seoul's 25 autonomous districts have been selecting district treasuries to operate for the next four years starting next year through an open competitive process since the end of last month.

In the early stages of this war, Shinhan Bank seemed to have the upper hand.

Shinhan Bank, which secured the Seoul city treasury four years ago, has continued its momentum this year by consecutively securing the district treasuries of Eunpyeong-gu and Guro-gu.

However, Woori Bank, which lost these two district treasuries it had been operating, launched a counterattack and succeeded in defending the district treasuries of Yangcheon, Gwanak, Jongno, Songpa, Gangdong, and Jungnang-gu.

It is known that the significant increase in the amount of contributions played a role in defending these district treasuries. Because of this, criticism has arisen that a bloody competition might be repeating.

In this process, a painful defeat was dealt to Shinhan Bank, which had operated the Yongsan-gu district treasury for 12 years. The battle for the Yongsan-gu district treasury is expected to be remembered for a long time along with its political significance.

KB Kookmin Bank, having offered very favorable conditions, not only defended Nowon-gu but also secured the Dobong-gu district treasury. Gwangjin-gu has not yet entered the competition.

Shinhan Bank, after taking over Eunpyeong-gu and Guro-gu, also succeeded in defending the district treasuries of Gangnam-gu, Seocho-gu, and Gangbuk-gu.

This tit-for-tat war-like fight is expected to continue until the end of this month, and attention is focused on what the final results will be.

This content was produced with the assistance of AI translation services.