Major Korean-American banks, led by Bank of Hope and Hanmi Bank, are aggressively targeting Korean companies expanding into the U.S. market. This move aims to break away from the saturated existing customer base and tap into new corporate banking demand.

Local Korean-American banks are now engaged in fierce competition with the U.S. subsidiaries of major Korean banks like Woori, Shinhan, and Hana to attract these clients.Bank of Hope (CEO Kevin Kim), the largest Korean-American bank in the U.S., has launched ‘Korea Business Financial Centers’ (K Financial Centers) in six key locations across the country to provide comprehensive financial services, from banking to tax and legal support, for Korean companies entering the U.S.Bank of Hope opened its first K Financial Center in Duluth, Atlanta, on April 11, followed by additional centers at LA’s Koreatown Olympic/Western branch on May 20, Fort Lee, New Jersey, on June 9, Manhattan, New York, on June 10, Houston Spring, Texas, on June 24, and Dallas, Texas, on June 25.

Amid the Trump administration’s reciprocal and universal tariff policies, which are driving more Korean companies to enter the U.S., Bank of Hope provides loans, tax advice, labor law guidance, and other integrated financial services. The bank has also launched a website offering localized financial information and provides one-on-one consultations for Korean companies both online and offline.

Additionally, the K Financial Centers plan to establish close partnerships with organizations such as the Korea International Trade Association (KITA), the Association of State Offices in Korea (ASOK), which facilitates Korean investments in the U.S., and local Korean government entities.

CEO Kevin Kim stated, “As the only Korean-American regional bank, Bank of Hope has high lending limits and a nationwide branch network, including Hawaii. Our greatest strength is offering a total package of financial services, from opening accounts to securing loans and credit lines for companies entering the U.S.”

Hanmi Bank (CEO Bonnie Lee) has also launched a dedicated ‘Korea Desk’ to attract Korean corporate clients, working in tandem with its Seoul liaison office. On April 18, Hanmi Bank signed a memorandum of understanding with the Korea Federation of SMEs, Korean-American insurance agency Hub International, and law firm LBBS to support Korean small and medium enterprises (SMEs) in import/export and U.S. market entry.

Hanmi Bank also plans to co-host an ‘Investment Attraction Forum’ (tentative name) at the SME Leaders Forum scheduled for September in Jeju, South Korea.CEO Bonnie Lee emphasized, “Through the Korea Desk, our Seoul liaison office, and partnerships with collaborating organizations, Hanmi Bank aims to be a reliable financial partner for Korean companies.”The efforts of these two major Korean-American banks are driven by the goal of securing new customers and boosting revenue to fuel growth. Korean companies entering the U.S. are particularly attractive as clients due to their large scale and potential to include parent companies and affiliates, creating significant revenue synergy.

Meanwhile, other Southern California Korean-American banks, such as PCB Bank, Open Bank, CBB Bank, and US Metro Bank, lack dedicated teams for Korean corporate clients like those of Bank of Hope and Hanmi. However, they are also making efforts to attract Korean business clients by leveraging individual networks.