 The head office building of the Chōsen Savings Bank (right), photographed in the late 1930s or early 1940s | |
Native name | 제일은행 |
|---|---|
| Company type | Joint stock company |
| Industry | Financial services |
| Predecessor | Chōsen Savings Bank |
| Founded | July 1, 1929 in Keijō (now Seoul) |
| Defunct | 1997 |
| Fate | Bank run and collapse |
| Successor | Standard Chartered Bank |
| Headquarters | , |
Area served | Korea |
| Products | Banking services |
Korea First Bank (Korean: 제일은행; Hanja: 第一銀行), sometimes also referred to as Jeil Bank,[1] was a Korean bank that operated between 1929 and 1997.
It was one of five most prominent banks in South Korea by the mid-1990s, together with Chohung Bank, Korea Commercial Bank, Hanil Bank, and Seoul Bank.[2] It was initially established in Korea under Japanese rule in 1929 as the Chōsen Savings Bank (Korean: 조선저축은행),[3] Following the division of Korea, it changed its name in May 1950 to Korea Savings Bank (Korean: 한국저축은행).[4], and in December 1958 to Korea First Bank.
In December 1997, Korea First Bank was determined as insolvent following a bank run. It was subsequently recapitalized by the Korean authorities, and eventually acquired by Standard Chartered in 2005 to become Standard Chartered Korea.
- ^ "Cleaning Up at Korea First". Institutional Investor. 11 April 2004.
- ^ Suh Kyoung-ho (21 February 2023). "Profit vs. public obligations". Korea JoongAng Daily.
- ^ "Sc제일은행 박종복 은행장, 사람 냄새 나는 박 행장에게 없는 것 한 가지는?". 30 December 2019.
- ^ "제일은행명 'Sc제일은행'으로".