Citibank opened its first branch in Korea in 1967 and relaunched as Citibank Korea Inc. through integration with KorAm Bank in 2004.
Citibank Korea Inc. (CKI), a leading financial service provider, offers a full suite of international and local insights in a strong portfolio of innovative financial products and services from corporate and investment to consumer banking, wealth management and credit cards. CKI is concentrating on four areas to build on its success and sustainable growth in 2020—Expanding Customer Base, Enhancing Digital Competitiveness, Heightening Consumer Protection and Enhancing Productivity.
As of the end of 2019, CKI had 2.6 million consumer and 2,200 corporate clients. For the fiscal year 2019, CKI reported total revenue of US$ 1.1 billion.
Citigroup Global Markets Korea Securities Ltd.(CGMK) launched in 1996 and provides institutional clients with corporate and investment banking services and products.
Key Business Highlights
- Wealth Management As the first bank to introduce WM service in Korea since 1989, CKI caters to HNWI clients’ financial needs via 8 Wealth Management Centers spanning across the country, at which Citi Private Client and Citigold customers receive personalized advisory service from a team of professional experts, with specialty in wealth advisory on a global scale.
- Leading Digital CKI is entering another year of sustained growth in digital banking. As of the first quarter of 2020, active mobile banking customers have an annual growth rate of 9%, and digital penetration is increased with extensive digital coverage of 80% for the opening an account and 96% for the personal loan product.
- Treasury and Trade Solution (TTS) CKI’s Treasury and Trade Solutions (TTS) enables clients' success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. Based on the foundation of the industry's largest proprietary network with banking licenses in over 90 countries and globally integrated technology platforms, CKI’s TTS continues to lead the way in offering the industry's most comprehensive range of digitally enabled treasury, trade and liquidity management solutions to Korea’s top-tier local corporations and over 80% of the Global Fortune 500 names.
- Markets and Securities Services(MSS) CKI’s MSS offers diverse fixed income, currency, and commodity products for institutional and corporates clients, leveraging its industry-leading positon in Forex and financial markets business. It also provides direct custody service for offshore clients accessing probably the most advanced financial markets in Asia ex-Japan. Seamless execution between local markets and regional centers, let alone quality service as well as innovative solutions, has been instrumental for MSS maintaining the largest multinational client base in Korea. Product expansion into EV battery related commodities and Alternative Investment are our newest offerings highly recognized by our clients.
Korea Citi Country Officer Bio
Jin-Hei Park has been the CEO of Citibank Korea Inc. and Citi Country Officer (CCO) for Korea since October 27, 2014. He initiated GCB Korea transformation successfully having built eight wealth management centers and consolidated the branch network from 126 to 36. Citi Korea’s mobile app was awarded as No.1 Mobile App in the 2017 Korea Inno-Star Mobile Bank and ICT & Future Planning Award” by the Minister of Sciences consecutively in 2017 and 2018.
He is a banker with 36 years of experience in broad range of business in covering Corporate Banking, Corporate Finance and Markets businesses. He was COO for Citibank Korea from 2004 to 2007, overhauling Post-Merger Integration of Citi and KorAm Bank. Jin-Hei started his banking career with Citi in Seoul in 1984 and served as Country Treasurer until 2000. He also worked for Samsung Securities before joining KorAm Bank as an executive.
He holds an M.Sc. in economics from the London School of Economics, an M.B.A. from GSB of the University of Chicago and a B.A. in international economics from Seoul National University.
CKI Recent Awards (2017-2020)The Asset
Digital Bank of the Year in Korea (2020)
Best Global Bank in Korea (2017-2019)
Best Sub-Custodian in Korea (2018)
Best Equity Adviser (2017)
Global Finance Magazine
Best Corporate and Institutional Digital Bank (2017-2019)
Best Consumer Digital Bank (2017)
Best Foreign(International) Bank in Korea (2017-2019)
Best international bank in Korea (2017-2019)
Korea Multimedia Technology Award
Minister of Science, ICT and Future Planning Award - NEW Citi Mobile app (2017)
Asian Banking & Finance
Mobile Banking Initiative of the Year for Korea (2017)