Standard Chartered Korea (officially Standard Chartered Bank Korea Limited, formerly SC First Bank,

Hangul The Korean alphabet is the modern writing system for the Korean language. In North Korea, the alphabet is known as (), and in South Korea, it is known as (). The letters for the five basic consonants reflect the shape of the speech organs ...

: SC제일은행) is a

bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

ing and financial services company headquartered in

Seoul Seoul, officially Seoul Special Metropolitan City, is the capital city, capital and largest city of South Korea. The broader Seoul Metropolitan Area, encompassing Seoul, Gyeonggi Province and Incheon, emerged as the world's List of cities b ...

, South Korea and a wholly owned subsidiary of

Standard Chartered Standard Chartered PLC is a British multinational bank with operations in wealth management, corporate and investment banking, and treasury services. Despite being headquartered in the United Kingdom, it does not conduct retail banking in th ...

. It was created by the acquisition of the former Korea First Bank by Standard Chartered in 2005.

History

By the 1990s, Korea First Bank had become one of the five largest commercial banks in South Korea, together with

Chohung Bank Chohung Bank Co., Ltd. (CHB; , sometimes transcribed as Joheung Bank) was a bank company headquartered in Seoul, South Korea. It was formed by the 1943 merger of Hanseong Bank (), established in 1897 and sometimes referred to as Korea's first ban ...

, Korea Commercial Bank,

Hanil Bank The Hanil Bank () was a financial institution first established in Korea under Japanese rule, initially as Chōsen Trust (, 1932-1946) then renamed Joseon Trust Bank (, 1946-1950) and Korea Trust Bank (, 1950-1954) in South Korea. In 1954, it merg ...

, and Seoul Bank. It fell into financial trouble during the

1997 Asian financial crisis The 1997 Asian financial crisis gripped much of East Asia, East and Southeast Asia during the late 1990s. The crisis began in Thailand in July 1997 before spreading to several other countries with a ripple effect, raising fears of a worldwide eco ...

. It was acquired by

in 2005.Unknown Title
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References

External links

SC Bank Korea Homepage

SC Bank Korea Homepage
Banks of South Korea Standard Chartered Banks established in 1929 1929 establishments in Korea South Korean subsidiaries of foreign companies Economy of Korea under Japanese rule Companies of Korea under Japanese rule {{SouthKorea-company-stub

History

See also

References

External links