Suhyup Bank

What Suhyup Bank does

Suhyup Bank is a South Korean cooperative commercial bank operating from Songpadong that delivers retail banking, government-supported savings products, and commercial lending services. Its core retail offering centers on the Youth Future Savings (청년미래적금) account, a government-subsidized product for customers aged 19-34 that layers bank interest of 7-8% with state contributions and tax benefits to reach potential annual returns of up to 19.4%; the account is sold through the bank's internet banking platform and through coordinated nationwide launches alongside major Korean commercial banks such as KB Kookmin, Shinhan, and Woori. On the commercial side, Suhyup Bank participates as a lender in syndicated real estate investment trust (REIT) facilities, including a 118.3 billion won exposure to the Anseong Juksan Logistics Center REITs managed by KOREIT, where it joined other lenders to halt public auction proceedings and negotiate a loan extension following a payment default.

The bank's business model rests on two pillars: subsidized retail deposit gathering — enhanced by promotional gifts, salary transfer benefits, and account usage performance rewards that are competitive with stock market returns — and selective commercial lending into real estate structured finance. Distribution runs through a digital-first internet banking platform (Suhyup Internet Banking, 수협 인터넷 뱅킹) supplemented by its branch network and government-coordinated joint product launches with tier-1 Korean banks. As a cooperative institution, Suhyup also draws on its fisheries and agricultural member base as an embedded customer constituency, though neither ownership structure, financials, nor detailed headcount beyond an 11-50 range are disclosed in the available data.

Name

Suhyup Bank

Legal name

Suhyup Bank

Website

https://suhyup-bank.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Suhyup Bank is a South Korean cooperative commercial bank providing government-supported youth savings products, retail deposit services, and commercial lending including real estate investment trust financing to retail customers, fisheries/agricultural members, and commercial borrowers.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Depository Credit Intermediation (5221), Commercial Banking (52211), Commercial Banking (522110)

SIC

National Commercial Banks (6021), State Commercial Banks (6022)

akta.pro primary industry

Student & Youth Banking (FSABAAAH)

akta.pro secondary industry

Financial Inclusion & Basic Banking (Unbanked/Underbanked, Low-Fee Accounts) (FSABAAAL)

Keywords

• Commercial banking services
• Retail savings products
• Commercial lending
• Cooperative banking
• Internet banking

Headquarters

HQ city

Songpadong

HQ country

South Korea

HQ region

Asia

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales

Pricing tiers

Distribution channels3 records

Marketing channels1 record

Core offering

Suhyup Bank is a South Korean commercial bank that provides retail savings products, including the Youth Future Savings account (청년미래적금) targeting youth aged 19-34 with government-subsidized interest rates up to 19.4% annually, and commercial lending services including real estate investment trust (REIT) loan facilities. The bank delivers its services through the Suhyup Internet Banking (수협 인터넷 뱅킹) digital platform and a branch network.

Product overview

Suhyup Bank is a South Korean commercial bank that provides internet banking services and various financial products. The bank offers savings products such as the Youth Future Savings account (청년미래적금), a government-supported savings account for youth aged 19-34 with preferential interest rates reaching up to 19.4% annually. The bank also provides commercial lending services, including real estate financing through REIT arrangements.

Differentiator

Problem solved

Functional benefit

Products and services

• Youth Future Savings (청년미래적금) A government-supported savings account for youth aged 19-34, offering maximum annual interest rate of 7-8% from banks, which can reach up to 19.4% per year when including government contributions and tax benefits. With monthly deposits of 500,000 won over three years, potential returns can exceed 20 million won. Additional benefits include salary transfer benefits, account usage performance rewards, and promotional gifts.
• Commercial Banking Services Suhyup Bank operates as a commercial bank providing lending services, including participation in real estate investment trust (REIT) financing arrangements. The bank participates as a co-lender in syndicated loan facilities alongside institutions such as Tongyang Life Insurance, IBK Pension Insurance, and Shinhan Capital.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves5 records

Expansion highlights4 records

Direct peers

• NongHyup Bank (NH Bank): South Korea's other major cooperative bank, operated by the agricultural cooperative federation. Directly comparable to Suhyup in cooperative-governed retail banking serving a defined member base (farmers vs. fisheries), and operates government-linked savings and lending programs.

Broad incumbents

• KB Kookmin Bank: One of the "Big 4" Korean commercial banks and a co-participant with Suhyup in the nationwide Youth Future Savings launch. Comparable full-service retail and commercial banking footprint in South Korea, but at materially greater scale.
• Shinhan Bank: One of Korea's largest universal banks and a joint product launch partner with Suhyup, with overlapping retail deposit and SME lending products. Its capital affiliate Shinhan Capital is also a direct counterparty of Suhyup in the REIT co-lending relationship.
• Woori Bank: Another "Big 4" Korean commercial bank participating alongside Suhyup in national retail product launches. Competes head-to-head in retail deposits, SME lending and digital banking across the same domestic market.
• Hana Bank: One of Korea's major incumbent universal banks offering retail deposits, mortgages, and commercial lending. Participates in the same nationwide policy-linked product launches as Suhyup and competes for the same youth and retail segments.
• Industrial Bank of Korea (IBK): Policy-oriented Korean commercial bank focused on SMEs and commercial lending; its pension insurance arm is a documented co-lender with Suhyup on the Anseong Juksan REIT. Overlaps with Suhyup in mid-market commercial lending and government-program distribution.

Emerging players

• Kakao Bank: Korea's largest internet-only bank, targeting young, mobile-first retail customers — the same 19-34 demographic Suhyup courts via Youth Future Savings. Direct competitive overlap in digital deposits and personal credit.
• Toss Bank: Korea's second-leading mobile-first bank, focused on a tech-savvy youth and young-professional base. Competes directly with Suhyup for the same customer segment via UX-led digital savings and lending products.
• K Bank: One of Korea's licensed internet-only banks offering deposit, lending and remittance services through a fully digital platform. Competes with Suhyup's internet-banking channel for digitally native retail customers.

Regional players

• BNK Busan Bank: Mid-sized South Korean commercial bank with strong regional concentration and growing digital push. Comparable in retail deposit-taking and SME lending scale, though focused primarily on the Busan/Gyeongnam region.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/suhyupbank

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

Investments1 record

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

Frequently asked questions about Suhyup Bank