It is the world's first integrated investment and financial package designed specifically for high net worth (HNW) Global Korean expatriates.

The bank is the first international private bank to bring together an offshore and onshore wealth management client offering to Korean expatriates throughout Asia, London, and the Middle East.

As Singapore is home to Standard Chartered's global headquarters, it is the first market to offer this service. The programme will be rolled out to other key markets in the bank's network over the next 12 months.

Global Head of The Standard Chartered Private Bank, Peter Flavel, said that Standard Chartered is 'the largest international bank in Korea by some margin', and explained that Korea's economic track record was one factor contributing to this segment's growth potential.

He added, 'Korea is the world's third fastest growing high net worth market, with global assets currently at US$289 billion (S$415 billion), and projected to grow to US$440 billion (S$631 billion) by 2012'.

Significantly too, 'there is a growing trend for high net worth Koreans to emigrate to Asia Pacific, predominantly Singapore, Hong Kong and Shanghai'.

Currently no one player has a significant share of the expatriate Korean wealth market in Asia Pacific, where there is an estimated four million offshore Koreans, of whom 68,000 are in the HNW segment.

In Singapore, there are over 20,000 Koreans, of whom 20 per cent are HNW individuals, a number that continues to grow with Korea's own growth.

The Global Korean programme claims to be the first integrated package of private wealth management services designed specifically for the Global Korean citizen.

Mr Flavel said that the initiative is 'tailored to meet the onshore and offshore needs of the Global Korean citizen'.

'Simply, it means we can provide Wealth Management services in Korea to Koreans living offshore and also seamlessly look after their international needs.'

Clients will be served by a team of experienced Korean private bankers based in Singapore.

Services will include estate planning and credit, and advisory and daily banking services.

The bank will also partner service providers based locally and in Korea to deliver risk protection, real estate buyer advocacy for overseas property, and offshore multi-currency mortgages amongst others.