3 More Years... Line 1 Jonggak Station Also Called 'SC Jeil Bank Station'

[Asia Economy Reporter Kim Min-young] “The next station is Jonggak, SC First Bank Station.”

Seoul Subway Line 1’s Jonggak Station will continue to be called ‘SC First Bank Station’ for another three years.

SC First Bank announced on the 5th that it has extended the ‘Jonggak Station Naming Rights Usage Contract’ with Seoul Metro for three more years. Accordingly, until July 2023, various guide signs at Jonggak Station, internal route maps inside Seoul Metro trains, and onboard announcements will continue to display both the original name Jonggak Station and ‘SC First Bank Station.’

SC First Bank was selected as the final bidder in June 2017 for the station naming rights contract issued by Seoul Metro and has extended the contract this time based on a clause allowing a one-time three-year extension.

According to the bank, through the station naming rights, it has promoted its name to approximately 31.45 million annual users of Jonggak Station and, through internal evaluation, achieved about a 3 percentage point increase in unaided brand awareness.

Compared to the initial contract period in June 2017, the unaided brand awareness of SC First Bank improved by about 3 percentage points by the end of 2019, which the bank internally assesses as largely due to the effect of the Jonggak Station naming rights. Unaided awareness is a survey method where respondents list brands that come to mind within a given category without prompts.

SC First Bank built its headquarters in 1987 in Gongpyeong-dong, Jongno-gu (Jongno 47-gil), adjacent to exits 1 and 2 of Jonggak Station, and has been using it for about 33 years. The station and headquarters are directly connected by an underground passage, making it a popular shortcut for bank employees, customers, and nearby office workers during commuting hours.

A bank official said, “We expect that Jonggak Station will continue to be called ‘SC First Bank Station,’ allowing us to continuously enhance the bank’s brand awareness and image among the many citizens who use Jonggak Station.”