Banco Santander is set to shut down its Korean operations by the end of the year amid global restructuring efforts . The bank’s decision to withdraw from Korea may give a second thoughts to other foreign firms operating here. The move comes as concerns of the country 's plateauing financial industry continue to mount , causing Goldman Sachs , RBS and others to also reduce their operations in Korea . In addition , Banco Santander will close 450 branches in Spain and increase its investment in digital banking in an effort to bolster business .
Banco Santander is set to shut down its Korean operations by the end of the year amid global restructuring efforts . The move comes as concerns of the country 's plateauing financial industry continue to mount , causing Goldman Sachs , RBS and others to also reduce their operations in Korea . In addition , Banco Santander will close 450 branches in Spain and increase its investment in digital banking in an effort to bolster business .