Finance History | Hana — Korea Exchange Bank on Eulji-ro, Then the Holding Company
· 1967-1
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Finance History | Hana — Korea Exchange Bank on Eulji-ro, Then the Holding Company
kevin
People treat Hana as a single Seoul bank that always sat on Eulji-ro.
The listed parent is a holding company built over two books.
On 30 January 1967 the government opened Korea Exchange Bank as a specialist foreign-exchange house.
The first head office was on Eulji-ro in Jung-gu, Seoul.
KEB was privatized in 1989 and listed on the Korea Stock Exchange in 1994.
After the 1997 crisis the bank passed under Lone Star Funds in 2003.
Hana Financial Group, formed on 1 December 2005 when Hana Bank moved to a holding-company structure, agreed to buy KEB.
The Financial Services Commission approved the acquisition on 27 January 2012.
Hana Bank itself traces a private-capital start to Korea Investment and Finance Corporation in 1971 and an earlier short-term finance shop.
In September 2015 the old Hana Bank was folded into KEB.
The surviving legal entity kept the 1967 KEB charter and took the name KEB Hana Bank, later Hana Bank.
Systems were combined in June 2016.
The mechanism is Korea's postwar FX franchise: a specialist dollar book that later became a full commercial bank, then a holding-company subsidiary.
Group headquarters remain on Eulji-ro.
The pin is 66 Eulji-ro, Jung-gu, the street where both houses ended up on the same block.
Photo: Eulji-ro and Myeongdong, Seoul, via Wikimedia Commons.
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