[Flagship PB Center Chronicles②] Hana Bank Club1 Samsung
[Asia Economy Reporter Yu Je-hoon] "Through our ongoing PB business, we realized that the so-called young rich, a new affluent class, have a need for networking among people with similar sources of wealth. Since they are relatively young and proactive, we concluded that PB centers should serve as 'low-engagement communities' for them."
Hana Bank’s Club1 Samseong Center, the originator of domestic flagship PB centers, is emerging as a ‘community hotspot.’ By providing customized communities, it satisfies the networking needs of young rich who have become affluent through asset market activation over recent years, including virtual assets, ultimately attracting new customers.
When visiting Hana Bank’s Club1 Samseong Center in Samseong-dong, Gangnam-gu, Seoul, on the 4th, its exterior immediately stood out as unconventional for a bank. Unlike the relatively rigid appearance of typical bank branches, its facade, reminiscent of octopus suckers, evoked the atmosphere of an exhibition hall or art gallery.
Located on prime land right next to Hyundai Motor Group’s planned Global Business Center (GBC), Club1 Samseong Center is considered the pioneer of flagship PB centers in the banking sector. It targets clients with an average balance exceeding 3 billion KRW. While other banks are focusing their efforts on PB businesses, the assets of this center’s clients, which opened in 2017, are still said to be among the highest in the country. Recently, it also launched a ‘Family Office & Trust’ service for clients with financial assets over 30 billion KRW. A financial industry insider said, "Before building their own flagships, each bank is said to have visited the Samseong Center to gather ideas."
Library, Party Room... PB Center Becomes a Networking Hotspot
The first PB center space encountered upon entering the building was the ‘Maybe Library’ located on the 6th floor. True to its name, this space is like a library, equipped with about 3,000 volumes of books, chairs, and sofas. On weekdays during the evening and on weekends during the day, an actual librarian is on duty. The presence of Jo Jung-rae’s novel ‘Taebaek Mountains,’ which might seem unusual for a PB center, adds a unique touch. This space is open not only to PB center clients but also to the general public. The building’s basement also offers spaces where citizens can enjoy exhibitions, seminars, and even take naps. Kim Young-hoon, head of Hana Bank’s Club1 PB Center, explained, "It operates as a space open to everyone. Students preparing for exams come to study here, and it is also used for real estate contracts and even small corporate shareholder meetings."
Of course, facilities dedicated to PB center clients are hidden throughout the building. There are consultation rooms where PBs work and meet clients, as well as spaces where clients can learn the traditional tea ceremony. Additionally, there is a music listening room where PB center clients can enjoy various music. This home theater facility was prepared in collaboration with the German instrument company ‘Steinway & Sons.’
On the 5th floor, a pub-like space called ‘Rave’ stands out, designed for hosting various lectures, seminars, and parties freely. Next to it is a wine cellar room where PB clients store various alcoholic beverages. This space is always maintained at 18.3°C for proper storage. While most of the bottles on the racks are wine and whiskey, surprisingly, soju, which seems somewhat out of place, was also spotted. A center official laughed, saying, "It starts with wine, but some people end up with soju."
"We Will Make Club1 a Source of Pride for the Young Rich"
A significant portion of the PB center, which is generally presumed to be ‘ultra-luxurious,’ has been designed as ‘shared’ spaces because of the young rich, a new customer segment emerging in the PB sector. Unlike traditional wealthy individuals who have long-standing relationships with specific banks or are grouped by family units, the young rich are free to move according to the services and have different demands from PB centers.
Center head Kim said, "Traditional wealthy clients require comprehensive services through PB centers, from arranging their children’s marriages to networking, but the young rich have a strong proactive nature. Especially, since the young rich have high demands for ‘learning’ in areas such as investment and cultural activities, we focus on forming low-engagement communities that support these aspects."
According to Kim, the communities of young rich forming at Club1 Samseong Center typically do not exceed 10 members. They are generally composed of 5 to 6 people recommended by individual PBs based on client characteristics. For example, one group that rose to wealth through virtual assets uses this community to study real estate, investment immigration, and taxation, as well as to exchange ideas on various fields such as culture and arts.
Hana Bank plans to further enhance the Samseong Center, the originator of flagship PB centers, as a community hotspot. Kim said, "We plan to expand spaces that customers can enjoy in the future, and we are also considering establishing exclusive spaces for ultra-high-net-worth family office & trust clients. Our goal is for Club1 to be recognized by customers as a community hotspot and to be evaluated as ‘different from other PB centers.’"
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