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Friday, 22 January 2016

KorEconomics 101 (한국경제학개론), Part XXVI: Jeju Bank - Principal Bank of Jeju Island, a subsidiary of Shinhan Bank

Jeju Bank (Hangul/Hanja/Romanization: 제주은행/濟州銀行/Jeju Eunhaeng) is a regional bank that covers Jeju Island which consists two cities in that island, Downtown Jeju on North and Seogwipo on South. Founded in 1969, the bank joined the Shinhan Financial Group as a subsidiary of the oldest bank in Korea, Shinhan Bank in 2002.

Since its incorporation into Shinhan Financial Group, Jeju Bank has made a turning point by taking a leap into further growth and adopted the advanced customer management skills, business administration system and various business systems from Shinhan Financial Group and applied those systematic and scientific systems to its existing local-friendly management system to create a new value as a local bank. 

Jeju Bank has made a significant progress and played a key role in developing the Jeju economy with the outstanding support and concern from its local citizens. The bank has taken root as the most convenient bank in Jeju based on its far-reaching business network in the region. It has also lived up to its expectations as the most popular bank to Jeju citizens.

The bank has a network of 36 branches and offices throughout Korean Republic, mainly in Jeju Island. There are three branches outside the island - two in Seoul (Myeongdong 1-ga, Seoul Jung-gu and Yeoksam-dong, Seoul Gangnam-gu) and one in Busan (Namhang-dong 1-ga, Busan Yeongdo-gu).