Hanil Bank

The Hanil Bank (Korean: 한일은행) was a financial institution first established in Korea under Japanese rule, initially as Chōsen Trust (조선신탁, 1932-1946) then renamed Joseon Trust Bank (조선신탁은행, 1946-1950) and Korea Trust Bank (한국신탁은행, 1950-1954) in South Korea. In 1954, it merged with Korea Trade and Industry Bank (한국상공은행, est. 1936 as Chōsen Central Mujin Company 조선무진) and renamed itself again as Korea Heungup Bank (한국흥업은행), then Hanil Bank in 1960. The latter name alludes to respective names in Korean of Korea and Japan, and has therefore sometimes been rendered in English as Korea–Japan Bank.

It should not be confused with an earlier Korean bank of the same name, active between 1906 and 1931 and a predecessor entity of Chohung Bank.

Under Japanese rule

Chōsen Trust was created in December 1932 at the initiative of the Governor-General of Chōsen, with initial capital provided by the Bank of Chōsen and the Chōsen Industrial Bank (30 percent each) as well as Dong-il Bank, Honam Bank, and several individual Japanese and Korean businesspeople.

In South Korea

With the division of Korea, as with other banks previously controlled by Japanese interests, the respective operations of Chōsen Trust were taken over by public authorities on both sides of the 38th parallel. In North Korea, they were soon merged into the central bank within the country's monobank system.

In South Korea, the renamed Korea Heungup Bank was privatized in 1958 and acquired by Samsung C&T Corporation. Like other Korean commercial banks, however, it was nationalized in 1962 following the May 16 coup, as the military government expropriated large shareholders on the premise that their wealth had been amassed illicitly.