Asiamoney Korea Best International Bank 2021: Standard Chartered
Park Jong Bok, Standard Chartered Bank Korea
For international bank chiefs, life in Seoul is never boring. South Korean regulators are notorious for their sudden policy changes on household loans, dividends, labor policies and other areas that require increasingly nimble responses.
Standard Chartered has persevered through all the changes, making it Asiamoney’s pick for the best international bank in Korea, where it is led by chief executive Park Jong-Bok. Since buying First Korea Bank in 2005 for $3.3 billion, Standard Chartered has rarely looked back.
The country, after all, has a knack for confounding doubters. In the late 1990s, Korea was the first to recover from the region’s financial crisis. In 2000, 2008 and 2013, he navigated the worst of the dot-com crash, the collapse of Lehman Brothers and the tantrum in emerging markets, respectively. It is also pulling the world out of the Covid-19 recession.
Today, says Colin Chiang, Head of Wealth Management in Seoul, Standard Chartered is positioning itself to be part of the digital transformation taking place in one of the most tech-driven places in Asia.