Konkuk University Medical Center and its ... - Korea IT Times

u-Finance
Different is Better
Citibank Korea has a new campaign – It's Different!
When looking for a financial institution
there are a couple of things that
have to be right. One is that they have
to have a track record that demonstrates
that they can meet your individual
needs and another is they are someone
you can trust with your money.
For many expats in Korea, when it's
time to find a bank they can trust, the
first name that comes to mind is
Citibank. Citi's high profile in the industry
and reputation as a leader make
global citizens the world over familiar
with the company. The general perception
is that a company like Citi will do
the right thing when it comes to taking
care of their customers and their businesses.
Citibank in Korea
For Koreans, Citibank has been
around for generations. Most foreigners
in Korea hailing from the US, on the other hand know how
big Citi is there, but until they start checking them out in Korea,
have no idea of their history here. They might be surprised to
learn that back in 1967 Citibank was the first foreign bank to set
up shop in Korea. Over the years their capitalization has reached
phenomenal levels - approximately KRW 1.5 trillion and shareholder's
equity is at approximately KRW 5.5 trillion, which
makes Citi the largest foreign investor in Korea. That alone says
they are in Korea to stay. The last thing a banking customer needs
is for their bank to cut and run when things get tough. Let's face it,
the boarder between North and South Korea is the most heavily
fortified in the world for a reason. Most foreign banking customers
in Korea have a long-term commitment to be here and
they want to know that their bank does, too.
Many factors influence the local economy, not the least of
which are tense relations between the two Koreas and investors
memories of the Asian financial crisis of 1997. Rather than playing
it safe and pulling the plug when things have gotten tough in
the past, Citi has stepped up to help. During the oil crisis in the
42 KOREA IT TIMES | October 2010
Citigroup Korea Inc. CEO Yung-Ku Ha
1970's , the bank provided a US$ 200
million loan. During the 1998 Asian financial
crisis, Citi persuaded overseas
creditors to roll-over US$ 21 billion of
foreign debt. Citi also provided indirect
assistance to Korea in working with
US and Korean authorities on the US$
30 billion currency swap deal in Oct.
2009. At the time there was a statement
from the US Federal Reserve
which said “... the Fed swap arrangement
was universally applauded as a
key confidence-building step, and
Korea already has begun to draw on
it.” Hey, if the Fed trusted Citi to be
the go-between on a deal like that, then
the average customer should be able to
trust them with their business. A little
known fact is that Citi was awarded
the national medal of “Soongryejang”
in 1977, and “Heunginjang” in 1998
by the Korea government.
Citi's global perspective pays off for foreigners
Going to a branch to find out if their business is really geared
toward foreigners, will leave the prospective customer with a
pleasant surprise. Citi has made banking easy for English-speaking
foreigners, which is something that many banks in Korea
have tried to do, but really haven't gotten right. Citibank’s
English-language services include Internet and mobile banking, a
24/7 CitiPhone customer service, SMS notifications, and e-statements.
The also have an ATM locator on their website and the
machines operate 24×7×365.
Taking the show on the road? Citi's got you
covered
Another thing that is important to business banking customers
is that, when their business goes global, their bank will be able to
keep up. Citi offers export/ import transactions, cash management,
loan, bond issuance, foreign exchange, derivatives trading