Print this article

Korean Bank Launches VIP Branch

Vanessa Doctor

29 November 2009

IBK Securities Co, an affiliate of the Industrial Bank of Korea, has opened a new "celebrity branch" that offers exclusive private banking services to Korean sports stars and entertainers.

The " Star Plaza" is on the twelfth floor of the 63 Building in Yeouido, Seoul, and has a private entrance. In a statement, the company said that the branch is designed to cater for the time-restricted and discreet lifestyles of celebrities, which the bank aims to serve with customer-specific products.

"Celebrity private banking is already a mature part of the industry in developed nations," said Yoo Jeong-seob, the general manager of the Star Plaza branch.

The move adds to the growing Korean trend of financial services providers targeting specific niches. In 2008, Korea Exchange Bank launched all-English branches to serve expatriates. Early this year, SC First Bank opened a women-only private banking branch.