To be operated for four years from 2026 to 2029
Primary treasury bank to manage approximately KRW 6.6393 trillion, secondary treasury bank approximately KRW 761.8 billion
There is growing attention on the selection of Daejeon's next 'city treasury bank'.
Banks are fully committed to securing the treasury bank position because it grants them the authority to manage public funds, enhances their credibility within the region, and leads to various ripple effects such as an increase in brand value.
Currently, Hana Bank holds the position of the primary treasury bank, while NH Nonghyup Bank serves as the secondary treasury bank. The current treasury bank contracts will expire on December 31, 2025.
Accordingly, Daejeon City has begun the process of selecting financial institutions to operate the city treasury bank for four years, from January 1, 2026, to December 31, 2029.
The 'city treasury bank' serves as the official financial gateway for the city, responsible for storing and managing revenues and expenditures of the general account, special accounts, and funds, as well as providing various financial services.
According to the 2025 main budget, the annual management scale of the treasury bank to be designated this time is approximately KRW 6.6393 trillion for the primary treasury bank and approximately KRW 761.8 billion for the secondary treasury bank.
Daejeon City plans to hold an information session for financial institutions interested in participating in the treasury bank designation on August 5, and will accept proposals on September 4. After the review and evaluation by the 'Treasury Bank Designation Review Committee', the final designation will be made in September.
The evaluation criteria include: ▲the internal and external credit rating and financial stability of the financial institution; ▲loan and deposit interest rates offered to the city; ▲convenience for citizens; ▲the institution's ability to manage treasury bank operations; ▲contributions to the local community and ability to pursue cooperative projects with the city; and ▲other relevant factors.
Eligibility is limited to banks as defined by the Banking Act, in accordance with Article 38 of the Local Accounting Act, and only financial institutions with a headquarters or branch in Daejeon City may participate.
For this treasury bank designation, applications will be accepted collectively without distinguishing between primary and secondary treasury banks. The ranking will be determined based on the review results. The first-ranked financial institution will be designated as the primary treasury bank, responsible for the general account, 11 special accounts, and 5 funds. The second-ranked financial institution will be designated as the secondary treasury bank, responsible for 6 special accounts and 14 funds.
Cho Jungyeon, Daejeon City's Tax Administration Officer, stated, "The treasury bank designation will be conducted based on fair and transparent evaluation criteria," adding, "We will select a financial institution that can contribute to citizen convenience and the development of city administration."
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