Core Insights - Standard Chartered Bank Korea has opened its first private banking centre in Korea, named the Apgujeong Priority Private Centre, targeting individuals with deposits of at least Won1bn ($680,000) [1][5] - The new centre is part of Standard Chartered's strategy to enhance its presence in the Korean market, which is significant for its retail banking operations [2][5] - The Apgujeong centre is designed to meet the growing demand for tailored wealth management solutions among affluent clients [5] Company Strategy - The Apgujeong centre is the 16th private banking facility in Standard Chartered's global network, which includes locations in major financial hubs such as Singapore, Hong Kong, and the UAE [2][1] - Plans are in place to open additional private banking centres in affluent areas, including Busan and other parts of the Seoul metropolitan region [2][5] Facilities and Services - The Apgujeong centre spans six floors and features a lounge, reception area, 11 client consultation rooms, and a private vault [4] - A team of 22 experienced relationship managers, along with four specialists in investment, foreign exchange, and insurance, will provide services in wealth management and succession planning [4] Leadership Statements - The CEO of Standard Chartered Bank Korea emphasized the bank's unique position as the only international bank with retail operations in Korea, aiming to deliver superior financial solutions [3] - The CEO of Standard Chartered's wealth and retail banking division highlighted the commitment to the Korean market and the focus on personalized services for affluent clients [5]
Standard Chartered opens private banking centre in South Korea