South Korea’s Woori Bank is venturing into the performance ticketing business, challenging established players in a market that recorded nearly 22 million reservations this year.
The bank plans to launch an online platform for concerts, musicals and exhibitions in the second half of 2025, targeting Generation Z and millennial customers. The move marks Woori’s latest attempt to diversify beyond traditional banking services, following its planned entry into budget mobile phones.
The ticketing market shows consistent demand with monthly reservations between 1.5 million to 2.2 million, according to the Korea Performing Arts Box Office Information System. However, Woori faces stiff competition from market leader Interpark, which controls about 70% of ticket sales, and Yes24.
Success hinges on securing exclusive content rights, industry experts say. Ticketing platforms typically invest in performances to obtain selling rights, exposing them to both ticket revenue and investment risks. Woori is currently recruiting content producers with entertainment industry experience to build its portfolio.
A financial sector official noted that banks are increasingly looking beyond traditional platforms to expand their customer base, as they face growth limitations in core banking services.
