SC First Bank Opens Apgujeong PB Center... First Client Is Seri Park

Special Interest Rate Event to Celebrate the Opening

SC First Bank announced on the 20th that it has opened the 'Apgujeong Private Banking (PB) Center' in Apgujeong, Gangnam, Seoul, for high-net-worth clients with deposits of at least 1 billion won.

This center is the first in Korea to introduce SC Group’s successful global wealth management center model, which has been established in key markets such as Singapore, Hong Kong, Taiwan, United Arab Emirates (UAE), India, and China. It is SC Group’s sixteenth PB center worldwide. Korea is the seventh market where SC Group operates a global PB center.

Starting with the Apgujeong Center, SC First Bank plans to sequentially expand the opening of PB centers to other cities with a high concentration of wealthy clients, including Seoul, the greater metropolitan area, and Busan.

On this day, SC First Bank invited Coach Seri Park, the first client of the Apgujeong PB Center, to the opening event. The event was attended by Kwanghee Lee, President of SC First Bank, along with the bank’s management, outside directors, and Judy Hsu, CEO of SC Group Retail Banking and Greater China North Asia (GCNA). Together with key invited clients, they held a ribbon-cutting ceremony and toured the center.

At the opening event of SC First Bank Apgujeong Private Banking Center held on the 20th, Judy Hsu, CEO of SC Group Retail Banking and Greater China North Asia (GCNA) (left), is taking a commemorative photo with Lee Kwanghee, President of SC First Bank (right), and Park Seri, the first client of Apgujeong PB Center and a coach (center). SC First Bank

The center consists of a total of six floors. It features a premium lounge, reception desk, safe deposit boxes, and 11 dedicated client consultation rooms. The center is staffed by 22 relationship managers (RMs), including the center head, as well as a group of four specialists in investment, foreign exchange, and insurance. The wealth management RMs each have at least 10 years of experience in asset management, and the center is staffed by financial experts who have completed the SC-INSEAD Wealth Academy, a joint program between the world-renowned business school INSEAD and SC Group.

Meanwhile, to commemorate the opening of the Apgujeong Private Banking Center, SC First Bank is holding a special event for clients. The first 200 clients whose deposit balances have increased by at least 100 million won compared to the end of October and who have newly qualified for PB status will receive up to 600,000 won in cash back. They can also participate in the 'Private Welcome Program,' which offers up to 15 million won in cash back or Korean Air gift cards for additional subscriptions to wealth management products.

Until the 28th, a special interest rate event is being held for PB clients who increase their deposits by at least 100 million won compared to the previous month and subscribe to KRW or foreign currency time deposits. Based on the increased deposit amount, for 3-month KRW time deposits, a special annual rate of 2.9% is offered for deposits of 100 million won or more but less than 500 million won, and 3.0% for deposits of 500 million won or more but not exceeding 1 billion won. For foreign currency time deposits, a special annual rate of 3.7% is offered for deposits of 100,000 dollars or more but less than 500,000 dollars, and 3.8% for deposits of 500,000 dollars or more but not exceeding 1 million dollars.

Kwanghee Lee, President of SC First Bank, stated, "SC First Bank is the only global bank in Korea operating a retail banking business, and we will provide advanced financial solutions to the domestic market based on world-class global investment strategies." He added, "We plan to further expand private banking centers to other regions with a high concentration of wealthy clients in the future."

This content was produced with the assistance of AI translation services.