Woori America Bank

What Woori America Bank does

Woori America Bank is a New York-chartered, FDIC-insured commercial bank and the wholly-owned U.S. subsidiary of Woori Bank (Seoul, Korea), operating as the largest overseas subsidiary of any Korean commercial bank in the United States. The bank provides a full suite of personal and business banking products — including checking, savings, money market, CDs and IRAs, credit cards, home mortgages, SBA loans, commercial loans and mortgages, commercial lines of credit, and international trade finance — distributed through 22 full banking branches and 4 loan production offices across 10 states (NY, NJ, PA, MD, VA, CA, TX, GA, IL, WA). Its core technology stack is a conventional digital banking platform supporting online account opening, mobile and internet banking, bill payment, Zelle peer-to-peer payments, business online banking with Remote Deposit Capture, and a downloadable nProtect security client; the WooriWON sub-brand layers digital-only deposit products (checking, savings, MM, CD) on top of the branch model.

The bank monetizes primarily through net interest income on its lending portfolio (mortgages, SBA, commercial, trade finance) and deposit-funded interest spreads, supplemented by transaction and service fees — NSF, wire transfers, account maintenance (often waivable on balance), dormant, stop-payment, and Korean Won currency exchange and KRW remittance services. Customer concentration is tightly focused on three segments: Korean-American individuals and families, Korean-American businesses, and Korean SMEs entering the U.S. market, served through a dedicated Korea Desk with Korean-language support and bilingual (English/Korean) digital and in-branch experience. Distribution combines traditional physical branches in Korean-American population centers with a digital-first self-serve channel and structured referral partnerships through Woori Bank Korea, the Ministry of SMEs and Startups, KOTRA, the Korea SMEs and Startups Agency, Jipyong LLC, and Samil PwC. As of year-end 2025, total assets stood at $4 billion.

Name

Woori America Bank

Legal name

Woori America Bank

Website

https://wooriamericabank.com

Company type

Private

Founded year

1984

Operating status

Operating

Headcount range

251–500 employees

Short description

Woori America Bank is the FDIC-insured, New York-chartered U.S. subsidiary of Woori Bank (Seoul) and the largest U.S. presence of any Korean commercial bank. It serves Korean-American consumers and businesses, plus Korean SMEs entering the U.S., through 24 branches across 10 states and a digital deposit platform (WooriWON).

Ownership category

akta.pro rank

Product category

Retail and Commercial Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• Retail banking services
• Commercial lending
• Korean remittance services
• Digital banking products
• International trade finance

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest Income from Lending: The bank generates revenue primarily through interest earned on loans including home mortgages, SBA loans, commercial loans, commercial mortgages, commercial lines of credit, and international trade finance facilities.
2. Deposit Account Fees: Various fees including NSF charges ($35 per item), returned item fees ($10), account closure fees ($20 within 3 months), dormant fees ($10/month), stop payment fees ($20), and wire transfer fees.
3. Deposit-Taking and Interest Spreads: Traditional banking revenue from accepting deposits (checking, savings, money market, CDs) and earning interest spreads on lending activities.
4. Digital Product Interest: Interest income from WooriWON digital products including checking, savings, money market accounts, and certificates of deposit with competitive APY rates.
5. Service Fees and Charges: Monthly maintenance fees (Waivable based on balance requirements), ATM fees, wire transfer fees, and other banking service charges.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Woori America Bank is a New York-chartered commercial bank that provides personal and business banking, lending, and digital banking services with a focus on Korean-American consumers and Korean SMEs entering the U.S. market. Core offerings include deposit products (checking, savings, money market, CDs, IRAs), credit cards, residential and commercial lending (SBA, commercial loans/mortgages, lines of credit, international trade finance), remittance and Korean Won exchange, and the WooriWON online-only digital banking line, all delivered through 22 branches and digital channels across 10 U.S. states.

Product overview

Woori America Bank offers a comprehensive suite of personal and business banking products through both traditional branch banking and a digital-only platform called WooriWON. Personal banking includes deposit products (Checking, Savings, Money Market, CDs & IRAs), credit cards, remittance services including specialized Korean Won currency exchange and KRW remittance, and digital services such as Internet Banking, Bill Payment, and Zelle peer-to-peer payments. Business banking encompasses Business Checking, Business Credit Cards, Check Positive Pay fraud protection, a specialized Korea Desk for Korean-American customers, and Business Online Banking with Remote Deposit Capture. Lending products span personal home mortgages, and business financing including SBA Loans, Commercial Loans, Commercial Mortgages, Commercial Lines of Credit, and International Trade Finance. The WooriWON digital banking platform provides online-only deposit products including Checking, Savings, Money Market, and Certificate of Deposit accounts with competitive APY rates and paperless account opening.

Differentiator

Problem solved

Functional benefit

Brands

• WooriWON: Digital banking product line including WooriWON Checking, WooriWON Savings, WooriWON Money Market, and WooriWON Certificate of Deposit (CD) accounts available for online account opening.

Products and services

• Personal Checking Personal checking account with standard banking features including debit card access, check writing capabilities, and overdraft protection options for individual consumers.
• Personal Savings Personal savings account with competitive interest rates and FDIC insurance protection for individual consumers.
• Money Market Savings product with competitive interest rates combined with limited check-writing and debit card access for enhanced liquidity.
• CDs & IRAs Certificate of Deposit and Individual Retirement Account products with fixed terms and interest rates, including traditional, Roth, and SEP IRA options.
• Personal Credit Cards Credit card products designed for personal banking customers.
• Remittance (Wire Transfer and Zelle) International and domestic money transfer services including wire transfers and Zelle payments for individuals and businesses.
• Woori KRW Remittance Specialized Korean Won currency remittance service enabling transfers between U.S. and Korean accounts with favorable exchange rates, targeted at Korean-American individuals and businesses.
• Korean Won Currency Exchange Currency exchange service for Korean Won to U.S. dollars and vice versa, supporting Korean-American consumer and business needs.
• Business Checking Commercial checking account with features designed for business operations including multiple user access and cash management tools.
• Business CDs & Money Market Business CDs and money market deposit products for commercial customers seeking competitive yields on operating reserves.
• Business Credit Cards Credit card products designed for business banking customers, supporting operational and travel expenses.
• Check Positive Pay Business banking fraud protection service that matches issued checks against presented items to detect potential fraud for commercial account holders.
• Korea Desk Bilingual banking service in Korean language for Korean-American business customers and those with ties to Korea, providing cross-border transaction expertise and U.S. market entry support.
• Home Mortgage Loan Residential mortgage financing for purchasing or refinancing owner-occupied properties, primarily serving Korean-American homebuyers.
• SBA Loans Small Business Administration-backed loans including 7(a) and 504 programs for qualified business borrowers, supporting Korean-American and Korean SME business expansion.
• Commercial Loan General commercial lending for business expansion, equipment purchase, and operational financing needs of Korean-American and Korean SME business customers.
• Commercial Mortgage Real estate financing for commercial properties including owner-occupied and investment properties for business borrowers.
• Commercial Line of Credit
• International Trade Finance Trade financing solutions including letters of credit, documentary collections, and import/export financing, particularly supporting Korean-U.S. trade activities.
• WooriWON Checking Online-only checkless checking account with $25 minimum to open, $3 monthly maintenance fee (waived with $100 average daily balance), and optional internet banking and debit card at no extra cost.
• WooriWON Savings High-yield online-only savings account with rates up to 3.25% APY ($100,000+ tier); 2.95% APY for $0-$99,999.99; $100 minimum to open; $5 monthly maintenance fee (waived with $100 average daily balance).
• WooriWON Money Market Online money market account earning up to 3.15% APY with $500 minimum to open; includes debit card access and easy transfers with balance tiers: $0-$99,999.99 at 3.00% APY, $100,000+ at 3.15% APY; $10 monthly maintenance fee (waived with $500 average daily balance).
• WooriWON Certificate of Deposit (CD) Online Certificate of Deposit with fixed rates and terms of 3, 6, 9, or 12 months. APY rates: 3-Month 3.70%, 6-Month 3.75%, 9-Month 3.65%, 12-Month 3.55%. $1,000 minimum deposit with automatic renewal at maturity.
• Internet Banking (Personal and Business) Online and mobile banking platform for personal and business account management, bill payment, e-statements, Zelle transfers, and Remote Deposit Capture (business).

Quantifiable outcome

• Up to 3.25% APY on savings accounts (WooriWON Savings for $100,000+)
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature6 records

Partnerships

Five partnerships are on record, tiered flagship and core.

• Ministry of SMEs and Startups (Korea)flagshipStrategic or Co-development Partner · 30 April 2026Co-hosting investment seminars for Korean SMEs seeking to enter the U.S. market. The partnership addresses rising demand for local production facilities amid tariff negotiations and growing protectionism, featuring 11 sessions covering US market entry strategies with consultation booths on finance, legal, tax, real estate, and investment procedures.
• Jipyong LLCcoreImplementation/ SI/ Consulting PartnerParticipated in Woori Bank's investment seminar as a legal services provider, offering consultation on legal procedures for Korean SMEs entering the U.S. market.
• Samil PwCcoreImplementation/ SI/ Consulting PartnerParticipated in Woori Bank's investment seminar as an accounting/tax services provider, offering consultation on tax and financial procedures for Korean SMEs entering the U.S. market.
• Korea SMEs and Startups AgencycoreStrategic or Co-development PartnerPartnered with the Ministry of SMEs and Startups and Woori America Bank in the investment briefing program supporting Korean SMEs' U.S. market entry.
• KOTRA (Korea Trade-Investment Promotion Agency)coreStrategic or Co-development PartnerParticipated in the investment briefing alongside Woori America Bank to support Korean SMEs' market entry into the United States through trade promotion and market intelligence services.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Shinhan Bank America: U.S. subsidiary of Shinhan Bank (Korea) serving Korean-American consumers and Korean SMEs with bilingual banking, trade finance, and remittance services. Most directly comparable peer given similar parent-bank structure and customer base.
• Hana Bank USA: U.S. banking subsidiary of KEB Hana Bank, one of Korea's largest commercial banks. Directly comparable Korean-American focused franchise with bilingual services, SME banking, and trade finance offerings.
• Industrial Bank of Korea (IBK) America: U.S. operations of IBK, a Korean policy-oriented commercial bank with a U.S. branch serving Korean SMEs and trade-related businesses. Directly comparable as a Korean-bank subsidiary targeting SME cross-border activity.
• Bank of Hope: Largest Korean-American focused U.S. bank (formed from BBCN and Wilshire Bancorp merger). Closest U.S.-headquartered peer targeting the same Korean-American consumer and SME base with bilingual services and Korean-Asia trade finance.
• Cathay Bank: California-headquartered bank serving Asian-American communities, including significant Korean-American presence, with bilingual services, commercial lending, and trade finance. Comparable ethnic-banking franchise model.
• East West Bank: Major Asian-American focused U.S. bank with deep California presence, serving Chinese, Korean, and other Asian-American consumers and SMEs with bilingual services and cross-border trade finance. Comparable ethnic-focused bank with branch model.
• First General Bank: California-based Korean-American community bank serving Korean consumers and SMEs. Comparable as a smaller ethnic-focused competitor operating in overlapping Korean-American markets.
• NongHyup Bank (NH Bank) America: U.S. operations of NongHyup Bank, a major Korean agricultural and cooperative bank with U.S. presence serving Korean-American customers. Comparable Korean-bank subsidiary model targeting Korean diaspora.
• Korea Development Bank (KDB) America: U.S. operations of Korea Development Bank, providing corporate and trade finance for Korean-related business activity. Comparable as another state-linked Korean bank's U.S. presence serving cross-border corporate clients.

Emerging players

• Chinatrust Bank / Cathay United Bank (U.S. operations): Asian-bank U.S. operations focused on Asian-American consumers and cross-border trade with Asia. Comparable as an Asian-bank subsidiary with cross-border trade finance expertise targeting Asian-American communities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/woori-america-bank

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Woori America Bank