Woori Bank opens Austin’s first Korean lender branch as US presence gathers pace

The new outpost marks Woori’s third branch in the southern US, following Dallas, Texas and Duluth, Georgia

A view of Woori America Bank’s headquarters, Woori Bank's US subsidiary, located on 33rd Street in New York's Koreatown, across the Empire State Building (Courtesy of Woori Bank)

In-Soo Nam 1

2025-08-17 15:00:02 isnam@hankyung.com

Banking & Finance

Woori Bank, a unit of Woori Financial Group Inc., South Korea’s fourth-largest financial services provider, has opened a branch in Austin, Texas, becoming the first Korean bank to establish a foothold in the city.

The move comes as the financial group affiliate expands its presence in the southern US to serve the growing concentration of Korean companies.

The lender’s US subsidiary, Woori America Bank, began operations at the Austin branch last week 15 after two years of preparation and market research.

Woori Bank is a unit of Woori Financial Group

The office will provide account services, remittances and lending, while also offering support for Korean corporates and expatriates settling in the region, the bank said.

WOORI’S THIRD BRANCH IN SOUTHERN US

The new outpost marks Woori’s third branch in the southern US, following its branches in Dallas, Texas, and Duluth, Georgia.

Woori began operations in Dallas with a loan office in 2018, before upgrading it to a full branch in 2020. It later added a branch in Duluth in 2022 and a loan office in Houston in 2023.

Austin, Texas’s capital, is home to about 15,000 ethnic Koreans and has emerged as a hub for advanced industries.

Samsung Electronics Co. has operated semiconductor facilities in the city for more than 30 years and is building a new multibillion-dollar plant in nearby Taylor.

The region has also become a magnet for robotics, big data and artificial intelligence companies, drawing a steady influx of Korean investors and suppliers.

The bank said the timing of the launch, just days ahead of a planned South Korea–US summit on Aug. 25, underscored its commitment to facilitating investment and supporting corporate clients abroad.

“This is highly meaningful as the first Korean bank branch in Austin, where many Korean companies are active,” said a Woori Bank executive. “We will continue to provide strong support for both corporations and the Korean community.”

Write to In-Soo Nam at isnam@hankyung.com

Jennifer Nicholson-Breen edited this article.