From the 19th century, Asian trading centres became strategic for European banks. The forerunners of BNP Paribas have been there since 1860, to support the development of trade in India, China, Japan… In 1976, BNP opened a branch in Seoul. To celebrate BNP Paribas 40 years of uninterrupted presence in Korea, let us take a look back at a few milestones.
> 1976 BNP opens a branch in Seoul
> 1977 Paribas opens a branch in Seoul
Following a global merger, BNP Paribas Seoul branch is established.
Cardif is established. BNP Paribas becomes shareholder of Shinhan Financial Group with 4% stake. BNP Paribas and Shinhan Group sign a partnership agreement.
Cardif and Shinhan forms a joint-venture, the SH & C Life Insurance Compagny (50/50%) specialized in bancassurance.
BNP Paribas Asset Management acquires 50% of the capital of Shinhan Investment Trust Management Company.
Foundation of BNP Paribas Perigrine Securities Brokerage Korea Co. Ltd. (currently BNP Paribas Securities Korea Co. Ltd.)
Fortis Bank (today BNP Paribas Fortis) opens a representative Office
The participation of BNP Paribas Assurance in the capital of SH & C Life Insurance is increased from 50% to 85%. SH & C Life Insurance is renamed Cardif
The asset management company is renamed Shinhan BNP Paribas Asset Management Company
Cardif in Korea changed its name from Cardif Life Insurance to BNP Paribas Cardif Life Insurance
To go further, flip through the brochure “Celebrating 40 years in Korea”