Lee Hyo-jin covers the Bank of Korea, the banking industry and broader financial news. Her previous beats include foreign affairs, North Korea and general reporting on Korean society.
SC Bank Korea rolls out new incentives for private banking clients
Standard Chartered (SC) Bank Korea's Apgujeong Priority Private Centre in Seoul's Gangnam District / Courtesy of SC Bank Korea
By Lee Hyo-jin
Standard Chartered (SC) Bank Korea has expanded its private banking offerings for high-net-worth clients, introducing new incentives for first-time customers, the bank said Tuesday.
New private banking customers can receive benefits worth up to 15 million won ($10,100) under a welcome program.
The bank said first-time customers who qualify for its private banking service will receive a one-time bonus of 1 million won. Existing customers who are upgraded to private banking status can receive 300,000 won if they meet additional requirements.
The bank is also offering rewards based on the amount invested in its wealth management products. Eligible customers can receive between 500,000 won and 15 million won under the welcome program. The program will run through the end of the year.
Existing private banking clients can earn rewards by referring new customers.
Those who introduce friends or family members who subsequently qualify as private banking clients with at least 1 billion won in deposits can receive gift certificates worth up to 1.5 million won, depending on the amount of new assets brought to the bank. Rewards are available for up to five referrals a year.
Applications for both programs are available at the bank's branches and private banking centers. More information is available on the bank's mobile app.
"The initiative aims to allow more clients to experience the bank's private banking services while strengthening our wealth management offerings and lifestyle benefits," said Kim Ji-kang, head of the affluent banking division.