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Standard Chartered opens priority banking center in Apgujeong-dong for VIP customers

Published: 20 Nov. 2025, 15:54

YOON SO-YEON
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Executives from Standard Chartered Bank Korea (SCBK) and guests attend a ribbon-cutting ceremony for the Apgujeong Priority Private Centre opening in Apgujeong, southern Seoul, on Nov. 20. Pictured in the front row are Choi Hee-nam, board chair of SCBK, fifth from left; Judy Hsu, CEO of Wealth and Retail Banking and Greater China & North Asia, sixth from left; and Lee Kwang-hee, CEO of SCBK, seventh from left. [SCBK]

Standard Chartered Bank Korea (SCBK) opened its first priority private banking center in Korea for VIP customers with at least 1 billion won ($680,000) on Thursday.

The Apgujeong Priority Private Center, located in southern Seoul, is the bank's 16th priority private center globally. The Seoul branch comes after the establishment of centers in Singapore, Hong Kong, Taiwan, the UAE, India and mainland China.

The Apgujeong Priority Private Center consists of six floors, featuring a premium lounge and reception area, 11 client consulting rooms and a private vault. It boasts 22 dedicated relationship managers with over 10 years of experience in wealth management, including the center manager, and a team of experts in investments, foreign exchange and insurance.

The private center will provide customers with wealth solutions, personalized wealth management services, legacy and succession planning, global experiences and lifestyle privileges, according to SCBK.

"We are the only international bank with retail banking operations in Korea and aim to deliver a higher level of financial solutions in the local market backed by world-class global investment strategies," said SCBK CEO Lee Kwang-hee. " We plan to open additional Priority Private Centers in other regions with high concentrations of affluent clients.”

Judy Hsu, CEO of Wealth and Retail Banking and Greater China & North Asia at Standard Chartered, left, and Lee Kwang-hee, CEO of Standard Chartered Bank Korea, pose for photos with golf coach Pak Se-ri Pak at the opening ceremony of Apgujeong Priority Private Centre in southern Seoul on Nov. 20. [SCBK]

The establishment comes in line with Standard Chartered's aim at "driving sustainable growth through wealth management business for affluent clients in Korea, one of its key markets," according to the bank's press release. Standard Chartered will also open additional branches in cities with high concentrations of affluent clients, including in Busan, as well as in the greater Seoul metropolitan area.

“Korea is a key contributor to our affluent business and an integral part of our global strategy," said Judy Hsu, CEO of Wealth and Retail Banking at Standard Chartered. "The launch of our Apgujeong Priority Private Center underscores our long-term commitment and investment in the Korean market and addresses the growing demand for tailored wealth management solutions and personalized services among our affluent clients."

BY YOON SO-YEON [[email protected]]