SC Bank Korea opens unique priority private center in Seoul

Standard Chartered (SC) Bank Korea announced on Nov. 20 that it has launched a unique priority private center in southern Seoul equipped with an internationally aligned wealth management platform.

The lender noted that affluent clients with deposits of 1 billion won ($680,000) or more can receive dedicated services at the newly opened center.

SC Bank Korea said that it would introduce a private banking model already proven in major global financial hubs such as Hong Kong, Singapore, Taiwan, the United Arab Emirates, India, and China.

It is the 16th priority private center operated by Standard Chartered Group worldwide, and Korea has become the seventh market within the financial conglomerate to host such a facility.

SC Bank Korea said that the opening reflects SC Group’s strategic commitment to expanding wealth management services in Asia’s fourth-largest economy.

The bank plans to establish additional priority private centers across Seoul, the capital region, and major cities such as Busan, where affluent clients are heavily concentrated.

At the opening ceremony, SC Bank Korea welcomed its first official client for the new center, legendary female golf player Pak Se-ri.

She joined SC Bank Korea CEO Lee Kwang-hee, senior executives, and Judy Hsu, CEO of SC Group’s Wealth and Retail Banking and Greater China & North Asia, for a ribbon-cutting ceremony.

The bank noted that Pak Se-ri’s pioneering global career mirrors SC Bank Korea’s ambition to deliver world-class wealth management capabilities grounded in the SC Group’s international network.

The priority private center is housed in a six-story building featuring a premium lounge, reception area, safe-deposit boxes, and 11 dedicated consultation rooms.

The center is staffed by 22 relationship managers and four specialists in investment, foreign exchange, and insurance, according to SC Bank Korea.

All relationship managers have at least 10 years of wealth management experience and have completed the SC–INSEAD Wealth Academy program, a joint initiative between the SC Group and the global business school INSEAD.

Clients at the new center will have access to personalized wealth management services supported by dedicated experts, comprehensive inheritance, gifting, and business-succession planning, and a range of global lifestyle benefits designed to meet the needs of high-net-worth individuals.

“We are the only international bank with retail banking operations in Korea and aim to deliver a higher level of financial solutions in the local market backed by world-class global investment strategies,” CEO Lee Kwang-hee said.

“We plan to open additional priority private centers in other regions with high concentrations of affluent clients.”

Judy Hsu noted that Korea plays a crucial role in SC Group’s affluent banking business and remains a key component of the Group’s global strategy.

“The launch of our Seoul priority private center underscores our long-term commitment and investment in the Korean market and addresses the growing demand for tailored wealth management solutions and personalised services among our affluent clients” she said. 

“We will continue to leverage Standard Chartered’s global network and capabilities to support our clients in seizing investment opportunities and position our Korea franchise as a leading international wealth manager.”