KB Kookmin Bank Named Seoul Metro's Main Bank for Third Straight Term

KB Kookmin Bank said on July 15 that it has been selected as the primary transaction bank for Seoul Transportation Corporation, the operator of the Seoul Metro, for a third consecutive term. The award extends a financial partnership that began in 2020 and will now run through 2030, spanning 11 years in total.

Seoul Transportation Corporation is the country's largest urban railway operator, running subway lines 1 through 8 and part of line 9. The network carries roughly seven million passengers on an average day, making the banking relationship one of the most sizable public-sector mandates in South Korea.

The bank said its selection reflected the stable handling of the corporation's fund management and payment operations since 2020, along with digital banking capabilities tailored to the needs of a large public institution. Following a preferential negotiation stage, the new contract will cover a four-year period from 2027 to 2030.

Under the mandate, KB Kookmin Bank plans to manage operating funds, run an integrated fund management system and provide digital financial services aimed at improving the efficiency of cash flows. The bank said it would build on its experience serving public institutions and regional public enterprises to support a stable fund management framework.

The lender added that it intends to expand customized services designed to raise the corporation's operational efficiency and financial transparency. Kim Young-il, deputy head of KB Kookmin Bank's institutional banking group, said the bank would provide stable financial services for Seoul Metro's operations and serve as a solid financial partner built on a long relationship.

The renewal reinforces KB Financial Group's position in the competitive market for public-sector banking mandates, where major lenders vie to manage the funds and payment systems of government bodies and public corporations. Securing a marquee client such as Seoul Metro provides a steady base of deposits and transaction volume for the group's flagship banking unit.