Enterprises, Key to National Prestige

KEB is equipped with the largest number of overseas networks among domestic banks

Korea Exchange Bank (KEB) marks its 43rd anniversary this year. It is equipped with the largest global network among domestic banks with 47 overseas branches in 21 major economies including Hong Kong, Singapore, China, the United States and Europe, in addition to 352 local branches.
KEB has been leading the nation’s financial market with optimum strategic marketing, efficient management of capital and human resources and high quality moral management. It has been upgrading its status as a global bank while providing client-oriented services and maintaining financial soundness that matches a bank with a global network.
KEB reached the 1 trillion won level in operating profits during 2005-2007 and 782.6 billion won in operating profit in 2008 despite the financial crisis, having maintained stable and decent growth. Its net operating profit amounted to 585.4 billion won as of the third quarter of 2009, delivering the fastest pace recovery among the commercial banks in the post-crisis period. Based on the rapid recovery of operating capabilities, KEB has been laying the groundwork for full-fledged growth ahead of the envisioned economic recovery.
KEB’s strengths are:
1. A dominant position in the areas of foreign exchange and trading.
2. A client base with deep loyalty
3. Quality human resources and business culture
4. The highest quality financial soundness
5. Advanced infrastructure based on global standard in the areas of computing system, performance assessment system and money laundering-proof system.
On the back of such merits, KEB has been posting solid performances in terms of profitability, financial soundness and productivity.
While pursuing a goal of becoming a small but efficient bank, KEB has been carrying out managerial strategies making the most of its merits while compensating for its shortcomings.
In the banking sector of Korea, KEB is a relatively small but substantial and competitive bank. Without being satisfied with such performance, KEB has been exerting its utmost efforts to sharpen its competitive edges in the domestic banking sector with a focus on target client groups, outstanding marketing, innovative development of new merchandise and services, setup of efficient cost structure and process, effective capital distribution and the establishment of flexible structure and rapid client reception.
It is also poised to continue to maintain a dominant stance in the area of foreign exchange and trading by providing tailor-made financial services to meet the needs of global corporate customers in line with its status as the nation’s largest global network bank. Further, it plans to push ahead with a client-focused growth strategy with high-quality financial services like PB, WM and VIP Service in the area of private and card businesses.
With the goal of strengthening its overseas businesses, the bank has set up KEB Asia Finance Ltd. in Hong Kong and Shanghai in July 2009, which will take charge of IB businesses. KEB Asia Finance Ltd. will become a new growth engine for the bank in close connection with other overseas networks.
KEB’s current overseas network
KEB currently has a total of 47 business offices in 21 countries. In 2008, it opened nine offices, including a Calgary branch in Canada, and two in 2009 in Hong Kong and Indonesia.
KEB plans to set up a local headquarters in China, which will have the existing seven Chinese offices under its umbrella. It is also poised to advance into regions with future growth potential and strategic merits. It will continue plans for the transformation of the Dubai and Ho Chi Min offices into local branches while expanding the business network in India, Southeast Asia and North America.
Differentiated services for foreign clients
In addition to the nation’s largest global network, KEB has been boasting a differentiated service for foreign clients with outstanding services and products. It has been providing services exclusively for foreign customers since it set up a foreigner-only division within the individual marketing sector 10 years ago. In July 2008, it established a marketing office for foreign customers for the first time among domestic banks.
KEB’s foreign customer-related divisions have been offering systematic services with specialized commodities and services for foreigners including “easy-one remittance service” and “Expat banking service” for the first time among domestic banks for foreigners residing in Korea.
The easy-one service, in particular, hit 500,000 cases of remittance, attracting huge popularity from foreign customers. KEB has been operating 18 offices in areas with a high population of foreigners like Itaewon, Hannam-dong and the Star-tower branch. For migrant workers, KEB is now operating 25 branches including 13 that are open on Sundays. It has also been inviting local employees in Japan, China, the Philippines, Indonesia and Vietnam to be trained here for the provision of upgraded services in their respective nations. It is planning to hire a larger number of naturalized locals for the provision of better services.
Since August last year, KEB’s Expat Savings Account has been attracting huge popularity from foreign clients since it offers English transaction contents. It has also been providing more conveniences for foreign customers by providing them with services for withdrawing won currency with foreign currency accounts from September last year. nw

Korea Exchange Bank executives attend the grand opening of KEB Asia Finance in Hong Kong on July 16, 2009. The participants include KEB Chairman Richard F. Wacker, President & CEO Larry A Klane, and KEB Asia Finance President Sohn Chang-sup.