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Standard Chartered Bank Korea Limited

Company type	Public company
Industry	Financial
Founded	1929 ; 95 years ago  ( 1929 )
Headquarters	Seoul , South Korea
Key people	Park Jong-Bok, CEO
Products	Financial services
Parent	Standard Chartered
Website	www.standardchartered.co.kr

Standard Chartered Korea (officially Standard Chartered Bank Korea Limited , formerly SC First Bank , Hangul : SC第一銀行) is a banking and financial services company headquartered in Seoul , South Korea and a wholly owned subsidiary of Standard Chartered . It was created by the acquisition of the former Korea First Bank by Standard Chartered in 2005.

History [ edit ]

The bank started as Joseon Deposit Bank ( 朝鮮貯蓄銀行 ) in 1929. ^[1] In May of 1950, it changed its name to Korea Deposit Bank ( 韓國貯蓄銀行 ). ^[2] In 1954, it made an acquisition of branches of the Korean Bank for Nurturing Industries ( 韓國殖産銀行 ; a predecessor to Korea Development Bank ). ^[3] The bank was nationalized in 1961 by the military government. It became one of the 5 largest commercial banks in South Korea but it fell into financial trouble during the 1997 Asian financial crisis . ^[4] It was acquired by Standard Chartered in 2005. ^[5]

See also [ edit ]

• Economy of South Korea
• List of Banks in South Korea
• Standard Chartered

References [ edit ]

External links [ edit ]

• SC Bank Korea Homepage (in Korean)
• SC Bank Korea Homepage (in English)

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