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Home > Company Index > Banking > Banking - Asia & Australia > Seoul Bank

Seoul Bank
 PROFILE
Seoul Bank is doing some soul-searching these days. Founded as the Bank of Seoul in 1959, Seoul Bank provides trust banking, investment services, and international banking through branches in South Korea, Hong Kong, and Luxembourg. The bank has been foundering in debt ever since the Asian economic debacle of 1998. Initially advised by the International Monetary Fund to sell Seoul Bank to a foreign buyer, the South Korean government has since been using public funds to privatize the bank. Deutsche Bank has been appointed the bank's financial adviser and will help select a new CEO; the German bank is considering acquiring Seoul Bank if its restructuring proves successful.

 COMPETITION
Hanvit Bank (dossier)
Kookmin Bank (dossier)

 FINANCIAL OVERVIEW
Fiscal Year-End: December
1999 Sales (mil.): 2,702.10
1-Yr. Sales Growth: (27.6)%
Employees: 4,707
Revenue per employee: $574,059.91

 KEY PEOPLE
• Kang Chung-Won
    CEO

 CONTACT INFO
10-1, Namdaemun-no 2-ga, Chung-gu
Seoul 100-746, South Korea
Phone: 82-237-6114
Fax: 82-237-6437
Online: Web Site

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