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September 14, 2022

South Korea’s KB Financial opens mega private banking office in Seoul

South Korea-based KB Financial Group has opened a new private banking branch in Seoul in order to cater to the wealthy customers.

The centre, named KB Gold & Wise the First, is situated in a seven-story building at Seoul’s Apgujeong district. It is equipped with 15 consulting rooms and around 1,400 safe deposit boxes, among other facilities.

Claims to be the biggest private banking hub in South Korea, KB Gold & Wise the First seeks to provide its customers with centralised, improved and customised wealth management solutions.

Through the new office, the banking group aims to offer customers with new investments services driven by portfolio assessment.

It will offer trust fund consulting services under its family office arm.

According to industry observers, the new office will serve customers having more than KRW3bn ($2.2m) of personal assets.

KB Financial Group chairman Yoon Jong-kyoo said: “We opened the new branch to provide services like no other to our clients.

“We plan to provide one-of-a-kind service to our customers and deliver only the best.”

In the first half of this year, KB Financial posted KRW2.77tn of net profit, a surge of 11.2% compared to the previous year.

The firm’s operating profit also grew 2.38% to KRW3.5tn, while its revenue increased 55.6% to KRW46.4tn.

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