Standard Chartered Bank Korea

Standard Chartered Korea, a wholly owned subsidiary of Standard Chartered, is a banking and financial services organization with its headquarters in Seoul, South Korea. It was established as a result of Standard Chartered's 2005 acquisition of the erstwhile Korea First Bank.

In 1929, the bank was founded as the Joseon Deposit Bank. It became known as the Korea Deposit Bank in May 1950. In 1954, it acquired the branches of the Korean Bank for Nurturing Industries (the Korea Development Bank's forerunner). The military government nationalized the bank in 1961. It grew to be among the top 5 commercial banks in South Korea, but during the Asian financial crisis of 1997, it had financial difficulties. Standard Chartered bought it in 2005.

Founded: 1929
Headquarters: Seoul, South Korea
Website:www.standardchartered.co.kr