South Korea's commercial banks are moving to strengthen their risk management following Japan’s restrictions on exports of key high-tech materials to the country. 

This is according to industry sources on Monday, who say banks are planning to expand the scope and stringency of local market and industry conditions.

Woori Bank is strictly monitoring abnormal behavior by small- and mid-sized clients affected by the export controls. 

The bank plans to expand the scope of monitoring into other local component industries and will review a liquidity assistance plan for local firms should the controls be expanded.

NH Bank said it is checking on related local industries’ exposures to Japan’s trade restrictions as well.

These and other commercial banks are also known to be communicating with their partners and clients in Japan regarding the Japanese government's related moves.