Banking Act of the Republic of Korea
은행법 · English Translation (updated to July 1, 2026)
은행법 영문본 · 은행법 영문 · Korea Banking Act English
This is a complete English translation of the Banking Act (은행법) of the Republic of Korea, the principal statute governing the establishment and supervision of banks. It is offered as a free download — a reference edition kept current with the latest Korean text.
What's new in this edition
- Article 30-3 (Calculation of Loan Interest Rates) — newly inserted (Act No. 21296)
- Prohibits banks from reflecting reserve requirements, deposit-insurance premiums, Korea Inclusive Finance Agency contributions, and certain education tax in loan interest rates
- Restricts the reflection of five statutory guarantee-fund contributions in loan interest rates
- Requires semi-annual compliance inspection, recordkeeping, and reflection in internal control standards
- Applies from the first loan contract concluded or renewed after July 1, 2026
Why this edition
Foreign banks, counsel, and compliance teams need the current English text of the Banking Act, but the official English translation stopped at 2023. This free edition closes that gap and was prepared and reviewed by H&S Partners, a licensed Korean law office — so you can rely on it as a current-state reference.
Tell us who you are and the complete PDF is yours — 32 pages, A4 PDF.
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Prepared by H&S Partners, a licensed Korean law office.
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Frequently asked questions
How much does it cost?
It's a free download — an updated reference edition of the Banking Act in English.
Is it up to date?
Yes — updated to Act No. 21296 (enforced July 1, 2026), including the new Article 30-3.
Can I rely on this as legal advice?
No. It is an unofficial translation for reference only. Only the Korean text has legal force; in case of conflict, the Korean text prevails.