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Monday, 8 June 2015

KorEconomics 101 (한국경제학개론), Part VI: Busan Bank - Busan Vacance and Financial Solutions.

New Headquarters of Busan Bank: 30 Munhyeon-GeumYungno, Munhyeon 2-dong 1231-beonji, Busan Nam-gu
Busan Bank (Romanization: Busan Eunhaeng) is a regional bank in South Korea that focused on the busiest Port in Korea, Busan Metropole. The headquarters of this bank is located at 30 Munhyeon-GeumYungno, Munhyeon 2-dong 1231-beonji, Busan Nam-gu, and offers a full range of retail banking services including foreign exchange at Munhyeon Financial Parcel main branch.

Busan Bank was established in 1967 to facilitate the regional economy. The company was formerly known as Pusan Bank Co., Ltd. and changed its name to Busan Bank Co., Ltd. in January 2009 in prior to Korean Revised-Romanization System. The bank operates as a subsidiary of BNK Financial Group, Inc. Its main shareholders include Aberdeen Asset Management Asia Ltd., Lotte group, National Pension Service, Capital Research & Global Investors, Parkland, Templeton, etc.

Busan Bank Co., Ltd. provides various commercial banking and trust services to individuals, small and medium-sized businesses, corporate clients in Busan Metropole. The company accepts demand deposits, term deposits, and certificates of deposits, including checking deposits, passbook deposits, public fund deposits, treasury deposits, and savings deposits; and provides corporate loans, household loans, credit card loans, consumer loans, commercial loans, working capital and facilities loans, and foreign currency loans.

As of December 31st 2011, it had a network of 251 branches and 1,749 ATM kiosks in Korea. BNK Financial Group acquired 44,677,529 shares of Kyongnam Bank, a regional bank based in Southern Gyeongsang Province in October 1st 2014 to expand banking operation in Southern Gyeongsang. In October 13th 2014, the headquarters of Busan Bank moved from Beomil 2-dong, Busan Dong-gu to Munhyeon Financial Parcel in Busan Nam-gu. The bank opened overseas branches in China (Qingdao, Shandong Province) and Vietnam (Ho Chi Minh City).

Old Headquarters of Busan Bank: 92 Beomil Avenue/Beomillo, Beomil 2-dong 830-38 beonji, Busan Dong-gu

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