The Korea Deposit Insurance Corporation (KDIC) is a statutory government body established in 1996 under the Depositor Protection Act of South Korea. Its primary mission is to protect the customers of insured financial institutions and contribute to the stability of the financial system. KDIC achieves this by managing and operating a deposit insurance fund, which is financed through premiums collected from its member institutions. In the event of a financial institution's failure, KDIC ensures the prompt payout of insured deposits up to the legal limit (KRW 50 million per depositor per institution) and oversees the resolution process for the insolvent institution, including investigation, asset recovery, and liquidation.

Founded in

South Korea