Hana Bank has been selected as Sejong Special Self-Governing City’s next lead treasury bank. NH Nonghyup Bank will take the role of second treasury bank. The two banks will carry out the city’s fiscal management work for four years from 2027, including general and special accounts and various funds.

Sejong Special Self-Governing City said on Oct. 27 it has made the final selections of Hana Bank as lead treasury bank and Nonghyup Bank as second treasury bank to manage the city’s finances from Jan. 1, 2027 to Dec. 31, 2030.

Under the selection, Hana Bank will manage general accounts and the integrated fiscal stabilization fund worth 1.9 trillion won, based on the 2026 main budget. Nonghyup Bank will manage special accounts worth 450.0 billion won and other funds excluding the integrated fiscal stabilization fund.

Over the next four years, the two banks will handle tasks including receiving the city’s revenues and disbursing expenditures, as well as keeping and managing various fiscal funds.

Sejong issued a notice last month designating the city’s treasury banks and received proposals from financial institutions. It then made the final decision on the next treasury banks after an assessment by the treasury bank designation review committee on the 21st.

The review committee comprised 9 members, including external experts such as university professors, lawyers, certified public accountants and tax accountants, and evaluated financial institutions through deliberations.

Sejong plans to sign a treasury bank agreement in November after discussing details with the selected financial institutions.

Lee Sang-ho (이상호), head of Sejong’s Autonomous Administration Bureau, said, "The city’s treasury bank is a partner that manages the city’s finances stably, enhances taxpayers’ convenience and works together to lead the development of city administration," adding, "I hope the next city treasury bank will fulfill its role."