More Korean banks keep shutting down as regulators get serious about staving off a run on retail deposits. So far, the market has held up like a rock. The tally of savings banks suspended from normal operation in the last month now stands at seven, of which six -- including the biggest Korean institution in its class, Busan Savings Bank -- have come in the last week. As it is, the government is still allocating about 20 trillion won ( quote ) -- roughly $20 billion -- to fund the process of restructuring the country's apparently failure-ridden banking sector . Giants like Woori ( WF , quote ) are already helping out in the bailout process, grabbing $44 million in bonds from failed banks and pondering outright absorption of at least one of them. So far, KB ( quote ) and ( SHG ( quote ) have yet to get involved, although they have each expressed interest in getting a savings bank for themselves out of this. Meanwhile, inflation pressures are reportedly becoming an outright "threat" to finance minister Yoon, so more interest rate hikes are likely to be in the cards. EWY ( quote ) is the ETF to play here. Options and volatility are relatively cheap here as well. If EWY tumbles, there are plenty of fast money guys eager to pile on at these levels.