South Korean commercial banks, including KB Kookmin, Shinhan, Hana, and Woori Bank, are increasingly targeting ultra-high-net-worth individuals, expanding their Private Banking (PB) centers for clients with assets over 3 billion won. This shift is due to the profitability of these clients and their preference for face-to-face services, often involving tax advice. The trend is also driven by the rapidly increasing number of high-net-worth individuals in South Korea, which grew by 30% to 461,000 by the end of 2020, with their assets increasing by over 30% to 2,826 trillion won.
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Auto-posted at: 2025-03-21 21:02:57