February 01

On February 1, 1897, Shinhan Bank establishes its inaugural branch in Seoul during the late Joseon dynasty. The bank introduces modern banking services, including savings accounts and loans. Its founding marks a significant step toward Korea's financial modernization and economic development. Shinhan navigates political upheaval, Japanese occupation, and post-war recovery to endure as an institution. Over the following century, it expands domestically and internationally. Today, Shinhan Bank remains a leading financial group in Asia, rooted in this historic opening.

On February 1, 1968, the New York Central Railroad and Pennsylvania Railroad merged to create Penn Central Transportation, forging one of the largest rail systems in North America. The merger was designed to streamline operations, cut costs, and compete with trucking and airlines amid declining rail traffic. At its inception, Penn Central controlled over 12,500 miles of track and served major industrial corridors from New York to Chicago. However, cultural clashes between the two corporate giants, financial mismanagement, and regulatory hurdles plagued the new company. Just two years later, Penn Central filed for the largest bankruptcy in U.S. history at the time, reshaping federal transportation policy. Its collapse led to the creation of Amtrak and Conrail, marking a turning point in American rail transportation.