Finance History | Shinhan — Three Branches Opened with Zainichi Capital
· 1982-7
Unreviewed contributionBy kevin · · updated · Report an issue
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Finance History | Shinhan — Three Branches Opened with Zainichi Capital
kevin
People treat Shinhan as a Jung-gu tower that was always a chaebol bank.
The first charter was a private bank funded from Japan.
On 7 July 1982 Shinhan Bank opened with paid-in capital of 25 billion won, 279 staff, and three branches. Lee Hee-gun and several hundred Korean residents of Japan put up the money. Kim Se-chang was the first president. The Bank of Korea had given preliminary approval in October 1981.
It was the first Korean commercial bank capitalized entirely by private investors. State banks and the older city banks still dominated the clearing system. The name, Shinhan, was chosen to mean a new Korea.
The 2006 legal merger ran the other way on paper. Chohung Bank, whose line reaches Hanseong Bank of 1897, absorbed Shinhan and then took the Shinhan name. The older prestige stayed on the register. The 1982 brand stayed on the door.
Headquarters moved to 120 Taepyeong-ro 2-ga in July 1988. The present pin is 20 Sejong-daero 9-gil, Jung-gu, the Daegyeong Building on the same Taepyeong-ro block. Walk the sidewalk. This is an active bank. Do not photograph the counters.
Shinhan Financial Group trades as 055550 in Seoul. The bank still dates its own founding to 7 July 1982, and prints the 1897 Hanseong date as lineage through Chohung.
Photo: Mobius6, via Wikimedia Commons.
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