 Gwangtonggwan building in Seoul, head office of Daehan Cheon-il Bank (1909-1911) then of Chōsen Commercial Bank (1911-1924) | |
Native name | 대한천일은행 |
|---|---|
| Company type | Joint-stock company |
| Industry | Financial services |
| Founded | January 30, 1899 in Hanseong (now Seoul, South Korea) |
| Defunct | 1997 |
| Fate | Rescued and merged |
| Successor | Woori Bank |
| Headquarters | , |
Area served | Korea |
| Products | Banking services |
The Daehan Cheon-il Bank (Korean: 대한천일은행), sometimes transcribed as Daehancheonil Bank, was the first viable domestic joint-stock bank in Korea, established in 1899. In its early years it was one of only two Korean-owned Western-style banks,[1]: 54 together with the Hanseong Bank (est. 1897). In 1911 it was renamed Chōsen Commercial Bank (조선상업은행, also transcribed as Joseon Sangup Bank), then in 1950 Korea Commercial Bank (한국상업은행).
By the 1990s, Korea Commercial Bank was still one of the five most prominent banks in South Korea, alongside Chohung Bank, Korea First Bank, Hanil Bank, and Seoul Bank.[2] It suffered from the 1997 Asian financial crisis, however, and was eventually merged with Hanil Bank to form Woori Bank.
- ^ Mark Metzler (2006). Lever of Empire: The International Gold Standard and the Crisis of Liberalism in Prewar Japan. University of California Press.
- ^ Suh Kyoung-ho (21 February 2023). "Profit vs. public obligations". Korea JoongAng Daily.