Business · Companies · 2 hrs ago
Gwangju Bank unlikely to open three planned branches this year
Gwangju Bank planned branches in Gokseong, Gurye and Jindo, three counties in South Korea's South Jeolla region where it has no branches.
The bank appointed staff to prepare for the openings in June, but has not signed leases for any of the locations.
Setting up the branches would also require renovation and installation of computer networks, so opening them this year is now unlikely.
The bank said discussions about the branches are continuing, but no opening date has been set.
It had planned the locations partly to support its bid to manage the general account of the new Jeonnam-Gwangju Special City.
Gwangju Bank lost that account to NH Nonghyup Bank, and whether it will still open the three branches remains unclear.
Gwangju Bank is unlikely to open planned branches in three South Jeolla counties before the end of 2026.
The bank had planned branches in Gokseong, Gurye and Jindo, where it has no existing branches.
In June, it appointed a branch-opening preparatory committee chair for each county.
As of October 27, the bank had not signed leases for premises, and installation and renovation work would also be needed.
The plans were linked in part to the bank’s bid to operate the integrated city’s main general-account fund, but it lost that operating right to NH NongHyup Bank the previous day.
- Who
- Gwangju Bank.
- What
- It is unlikely to open planned branches in Gokseong, Gurye and Jindo this year.
- When
- The report was published on October 27, 2026; the bank said the opening date was not yet set.
- Where
- Gokseong, Gurye and Jindo counties in South Jeolla.
- Why
- The bank said discussions were ongoing, but it had not signed leases; installing networks and renovating premises would also take time.
This story does not have two clearly opposing sides.
Gwangju Bank appointed a preparatory committee chair for a planned branch in each of the three counties.
Gwangju Bank lost the operating right for the integrated city’s main general-account fund to NH NongHyup Bank.
The bank had still not signed leases for the planned branches.
- Planned locations
- Gokseong, Gurye and Jindo counties
- Preparatory appointments
- Three branch-opening committee chairs appointed in June
- Lease status
- No premises leases signed as of October 27
- Main-account fund
- Gwangju Bank lost the operating right to NH NongHyup Bank the previous day
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What people are saying
Leases for branch premises have not been signed, and discussions on opening branches are currently underway; the exact opening date has not yet been set.