Woori Bank Europe GmbH products, services and reviews

About Woori Bank Europe GmbH

Woori Bank Europe GmbH is a German-incorporated subsidiary of Woori Bank, part of Woori Financial Group of South Korea, with its head office in Frankfurt am Main and authorization to operate as a credit institution in Germany. The bank is supervised by the Federal Financial Supervisory Authority (BaFin) and the Deutsche Bundesbank, and it can provide certain services across the European Economic Area under EU passporting rules. Its business model in Europe is centered on corporate and institutional banking rather than mass-market retail, with a focus on trade finance, documentary business (letters of credit, collections, guarantees), corporate lending, deposit and cash management services, foreign exchange, and cross‑border remittances, particularly for companies with links between Europe and South Korea. Account opening and pricing are typically relationship-based and negotiated, and service is commonly available in Korean and English, with German used for regulatory and local documentation. Consumer-facing products such as cards, ATMs, and everyday retail features are limited compared to domestic universal banks in Germany. The bank is subject to EU and German prudential, conduct, and AML/CFT requirements, including KYC and sanctions screening. Eligible deposits are protected by Germany’s statutory deposit guarantee scheme (Entschädigungseinrichtung deutscher Banken) up to €100,000 per depositor per bank; higher temporary coverage may apply for specific qualifying balances for up to three months under German law. Annual financial statements and regulatory disclosures (including Pillar 3) are published via the German Federal Gazette and the bank’s website. Prospective clients should assess product availability in their jurisdiction, confirm any voluntary deposit protection memberships if relevant, and review current tariffs and terms as they can vary by client type and transaction profile.