It’s an economic development win as the county attracts more Korean companies
By Justin Sayers – Senior Staff Writer, Austin Business Journal
Jul 22, 2025
One of South Korea’s largest banks, which has publicly named Samsung Electronics Co. Ltd. as a customer, is opening its first local branch in Williamson County.
New York-based Woori America Bank is holding a soft opening next month of its 2,000-square-foot branch at 14028 U.S. Highway 183, with a formal opening planned for September, according to Dave Porter, executive director of the Williamson County Economic Development Partnership. He said Woori has hired at least five people and plans to have a larger staff.
Woori America — a subsidiary of Seoul-based Woori Bank — was established in 1984 and has more than 20 locations in the United States, primarily in the northeast, according to its website. It has one location in Dallas, which opened in 2020.
The bank has connections to Samsung. In 2017, Woori noted in a filing with the U.S. Securities and Exchange Commission that Samsung was a key customer. Porter said the bank helped finance Samsung’s Taylor plant.
Woori officials did not immediately respond to a request for comment.
Woori’s presence in Williamson County is a notable step as officials continue to court more Korean companies here to join Samsung, which is building its massive factory in Taylor. Other companies that have already set up shop here include Hanwha Advanced Materials LLC in Georgetown, LS Electric Co. Ltd. in Bastrop, and Wonik Materials Co. Ltd. in Manor. Banks provide business and personal services that help finance projects and offer individuals a safe place to store money.
Porter said the idea for the bank dates back to Wilco EDP’s first trip to South Korea in April 2023. When they met with Samsung and their suppliers, one of the frequent pieces of feedback they received was how challenging it was, not only for companies but also individuals, to establish a line of credit so they could get a car or an apartment.
“Our banks don’t recognize their banking system and lines of credit,” Porter said.
That feedback continued during a follow-up trip that summer and prompted Porter and EC Chi, international director for the Wilco EDP, to reach out to a number of banks. Woori was the primary one to show interest. It conducted six months of research on demographic trends and the number of Korean companies already here or mulling setting up shop here before getting the sign off from bank leadership.
“Of all the deals I’ve been a part of, I’m actually more excited about recruiting a bank because it’s going to help far more people from a financial standpoint,” Porter said.
Porter said having the company here will continue to help with recruitment efforts, as the bank can now recommend for its customers to set up in Williamson County because they have a branch here.
“Of all the banks, I think we got lucky and got the right one to be the first Korean bank in Central Texas. I think it’s really cool that they’re coming here. It’s going to help a lot of Korean families,” Porter said.
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