Name of Institution

Korea Deposit Insurance Corporation (KDIC)

Country

Republic of Korea (KOR)

Institution at a Glance:

Korea adopted an explicit deposit insurance system by establishing the Korea Deposit Insurance Corporation (KDIC) under the Depositor Protection Act (DPA) in 1996 in order to provide effective deposit insurance. The KDIC is an integrated deposit insurer that provides protection to financial institutions of six different types - banks, life insurers, non-life insurers, financial investment companies (e.g. securities firms and asset management companies), merchant banks and mutual savings banks. Membership is mandatory; each financial institution becomes a member of the deposit insurance system as soon as it receives a license from the Financial Services Commission (FSC). The KDIC, a special corporation established with no capital to carry out the public policy objective of depositor protection, is a public corporation overseen by the FSC.

Shareholders

Financial Services Commission

Member Since: 2015

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Key Officer

Wi Seongbak, Chairman and President

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Contact Us

Korea Deposit Insurance Corporation
Address: 30 Cheonggyechun-no, Jung-gu, Seoul
Telephone:+82-2-758-1122~5
Fax:+82-2-758-1120
Website: www.kdic.or.kr