Major banks compete for Gyeongsangbuk-do municipal treasury roles

Major commercial banks are intensifying competition to secure municipal treasury roles, raising concerns regarding the outflow of regional funds. The Gyeongsangbuk-do provincial government is currently accepting applications for its treasury designation, which involves managing approximately 15 trillion won in revenue and expenditures from 2026 to 2030.

While current holders include Nonghyup Bank and iM Bank, large commercial banks such as KB Kookmin Bank and Woori Bank are reportedly considering bids. Regional banks and several others, including Busan Bank and Kwangju Bank, have jointly requested the Ministry of the Interior and Safety to improve the evaluation criteria for treasury designations to ensure objectivity and protect the regional financial cycle.