Bank letter problem

[letitrainoh]

I am from South Korea and want to apply for Tier 1 Entrepreneur.

The money for business is held in a bank in South Korea and I am trying to submit bank statement and bank letter from the bank.

Here is what I am confused.

I want to write a sentence to prove 'the money is in a regulated financial institution' in the bank letter.

The bank holding the money is one of main banks in Korea.

The sentence some people recommended is
1. 'The Bank is regulated by State Bank of South Korea.'

But what about the sentence below?
2. 'The Bank is regulated by The Bank of Korea which is central bank of South Korea.'

What I am confused is the meaning of 'State Bank of South Korea'.
If I need to write real bank name of centural bank of S.Korea, it's 'The Bank of Korea' so 'State Bank of South Korea' is not correct.

However, if it refers to the bank owned by government, saying 'State Bank of South Korea' would be fine.

Please give me advice which sentence can be used in the letter to prove the money is in a regulated financial institution.

Thanks in advance.