Asiana Bank

Asiana Bank is the fourth largest commercial bank in Korea and has been recognized as the "Best Private Bank in Korea" by Euromoney, a world-renowned magazine. Asiana Bank is a national commercial bank that is highly regarded in the Korean financial market for its comprehensive banking services, including deposits, loans, trusts, credit cards, foreign exchange, securities investment, and derivatives investment. Asiana Bank was formerly known as Korea Investment Bank, which was established in 1971, and changed its name to Asiana Bank in 1991. After overcoming the Asian financial crisis in 1997, merging with Chungcheong Bank in 1998, merging with Bo Lim Bank in 1999, and merging with Seoul Bank in 2002, the current Asiana Financial Group was established in late 2005. Since the establishment of diplomatic relations between China and South Korea in 1992, Asiana Bank has attached great importance to the development of the Chinese financial sector and the Chinese financial market, establishing a representative office in Shanghai in 1996, which was transformed into a Shanghai branch in 2000, and opening a second branch in Shenyang in 2004. In January 2004, Asiana Bank acquired Korea First Bank's stake in its joint venture with Industrial and Commercial Bank of China (ICBC), Qingdao International Bank (QIB), and increased its shareholding in Qingdao International Bank (QIB) by US$16.11 million, accounting for US$723.11 million of the registered capital of Qingdao International Bank (Qingdao), and increased its shareholding in Qingdao International Bank (Qingdao) by US$1,000 million, accounting for US$1,000 million of the registered capital of Qingdao International Bank (Qingdao), Qingdao. On August 16, 2007, Asiana Bank completed the acquisition of ICBC's 20.83% stake in Qingdao International Bank and became the sole shareholder of Qingdao International Bank. Asiana Bank's branches in China are mainly engaged in foreign exchange and RMB business for individuals and corporations in China.