KB Kookmin Bank reselected as primary bank for Seoul Metro

KB Kookmin Bank announced Wednesday it has been reselected as the preferred negotiating candidate for the primary banking contract with Seoul Metro, the operator of subway lines 1 through 8 and part of Line 9 in Seoul.

The bank received high marks for its experience managing Seoul Metro's funds and payment operations since 2020, as well as for its proposal to provide digital financial services tailored to the transit operator's working environment. Once preferred-candidate negotiations conclude and a formal contract is signed, KB Kookmin Bank will serve as Seoul Metro's primary bank for four years, from 2027 through 2030.

KB Kookmin Bank said it plans to deepen its partnership with Seoul Metro, drawing on the expertise and systems management capabilities it has built through primary banking relationships with numerous public institutions and local public enterprises. Last month, the bank was selected as the primary bank for the Korea Heritage Promotion Service, a public institution under the Cultural Heritage Administration, and it already handles fund-related operations for the Korea Water Resources Corporation and the National Pension Service, among others.

"We will be a reliable financial partner — providing stable financial services essential to Seoul Metro's operations and continuing our long-standing cooperative relationship," said Kim Yeong-il, executive vice president of KB Kookmin Bank's institutional banking group.