Executive Summary 1. Introduction 2. Structure of Banking Systems in Japan and South Korea 2.1 Japan 2.2 Korea 3. Literature Review 3.1 A Review of the Japanese Banking System 3.2 A Review of the Korean Banking System 4. Objectives and Methodology of the Study 5. Monetary Policy of BOJ and BOK Since 2010 6. Covid-19 and the Banking Health of Japan and South Korea 6.1 Portfolios of Banks in Japan and South Korea 6.2 Productivity of Assets and Stockholder' Equity (ROA and ROE) 6.3 Profitability of Japanese and Korean Banks 6.4 Operating Efficiency 7. Banking Health in Pre-and Interim Period of Covid-19: A Comparative Analysis 7.1 Comparative Protfolios of Banks 7.2 Productivity of Banks 7.3 Efficiency Ratios and NPAs of Banks 7.4 Profitability 8. Conclusion and Polucy Recommendations References