Korea Exchange Bank
Korea Exchange Bank (KEB) is a specialized foreign exchange bank in South Korea. It is headquartered in Seoul, and was established in 1967. Korea Exchange Bank is the fifth largest bank in South Korea measured in assets (excluding IBK and KDB) and the largest foreign exchange bank in South Korea, providing the largest range of foreign exchange products.
Korea Exchange Bank was established in 1967 as a government-owned bank specializing in foreign exchange. It was privatized in 1989 and was one of Korea’s first commercial banks.
January 1975:Started securities business
April 1978:Launched Korea’s first credit card service
March 1983:Issued travelers cheques
February 1985:Official sponsor bank for 1986 Asian Games & 1988 Seoul Olympic Games
April 1994:Listed on Korean Stock Exchange
December 1995:Opened foreign exchange research center
November 1999:Opened a foreign exchange website offering exchange rate conversions and foreign exchange services
April 2001:Opened the foreign exchange website FXKEB.COM
June 2002:Introduced ATM services in foreign currency – a first for Korea
During the 2002 World Cup Games in Korea and Japan,KEB was the first Korean bank to export Korean won to another nation, by exporting bundles of 10000 won notes to Japan.
Oct 2003: Acquired by Lone Star Funds
Feb 2004: Merged Korea Exchange Bank Credit Service Co.
Aug 2014: Korea Exchange Bank Credit Group Separated from Korea Exchange Bank
Jan 2015: Launched 1QBank and the 1Q INSTA Card in Canada, becoming the first bank in Canada to offer a prepaid Interac card not linked to a bank account.