In South Korea, only two international banks-Citibank and the Hongkong and Shanghai Banking Corporation (HSBC)-offer retail services through their local branches. All remaining international banks engage only in corporate banking services such as loans in the local or U.S. dollar currency, and foreign exchange or spot/forward transactions and guarantees.
Banks open from 9:30 a.m. to 4:30 p.m. Monday through Friday, and 9:30 a.m. to 1 p.m. on Saturdays.
Automated tellering machines are readily available throughout Korea. One can withdraw, deposit, and transfer funds from a Korean bank account through ATMs 365 days a year from 8 a.m. to 10 p.m..
American Express Bank
64-8, Taepyongro 1-ga, Chung-gu
Tel: +82-2 399-2929
Fax: +82-2 399-2923
Services: corporate banking service like foreign exchange transactions, letters of credit, loans
Bank of America
Hanwha BD, 1 Janggyo-dong, Chung-gu
Tel: +82-2 729-4500
Fax: +82-2 729-4400
Services: letter of credit, remittance, loans
Banque National De Paris
8th Tongynag Chemical BD, 50 Sogong-dong, Chung-gu
Tel: +82-2 317-1700
Fax: +82-2 757-2530
Services: letter of credit, remittance, loans
Chase Manhattan Bank, N.A.
Main address: 34-15, Jong-dong, Chung-gu, Seoul
Tel: +82-2 758-5114
Fax: +82-2 758-5453
Services: letter of credit, foreign exchange, remittance, loans
Citibank
main office
89-29, Shinmunro 2-ga, Chongro-gu, Seoul
Tel: +82-2 723-9900
Fax: +82-2 738-6700
Citibank Corp. opened its Seoul office in 1967, beginning with corporate banking programs. Private banking services began in 1986 for individual loan portfolio management, and custody and clearance service. Credit card memberships were begun in 1998. Today, the bank has 11 branches in Seoul and Pusan. Other services include private banking, round-the-clock ATM services, CitiGold program for VIPs, drive-through ATMs, and CitiPhone banking.
Branches
Seoul
89-29, Shinmunro 2-ga, Chongno-gu
Tel: +82-2 2004-1760
Fax: +82-2 720-9712
Myungdong
60, Myongdong 1-ga, Chung-gu
Tel: +82-2 773-3513/5
Fax: +82-2 773-9515
Apgujongdong
30-10, Chungdam-dong, Gangnam-gu
Tel: +82-2 540-3901
Fax: +82-2 540-3908
Daechi
994-3, Daechi-dong, Gangnam-gu
Tel: +82-2 569-5700
Fax: +82-2 538-6400
Bangbae
981-16, Bangbae-dong, Socho-gu
Tel: +82-2 521-8555
Fax: +82-2 521-6292
Yoido
Tel: +82-2 786-4300
Fax: +82-2 786-3700
Gangnam
824-19, Yoksam-dong, Gangnam-gu
Tel: +82-2 567-6001
Fax: +82-2 569-4777
Banpo
59-4, Banpo 4-dong, Socho-gu, Seoul
Tel: +82-2 596-2600
Fax: +82-2 596-2660
Olympic
184-1, Bang-I-dong, Songpa-gu
Tel: +82-2 412-4600
Fax: +82-2 412-1300
First National Bank of Boston
Kyobo BD, Chongro 1-ga, Chongro-gu, Seoul
Tel: +82-2 397-3300
Fax: +82-2 733-6989
Services: loans, FX, LC, remittance
Hongkong and Shanghai Banking Corporation main office
1 Chongno 1-ga, Chongno-gu
Tel: +82-2 739-4211
Fax: +82-2 739-1387
In September 1998, HSBC started retail services such as cash management, deposit and mortgaged loans, remittances and foreign exchange transactions. For foreign investors, HSBC offers foreign advisory services for loan portfolio management. Securities custody and clearing services often lead to a one-stop service package that includes foreign exchange and deposit or cash management.
Branches
942-10, Daechi 3-dong, Gangnam-gu, Seoul
Tel: +82-2 3287-5832
Fax: +82-2 558-6454
617-3, Sinsa-dong, Gangnam-gu, Seoul
Tel: +82-2 3438-8800
Fax: +82-2 3438-8802
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