Hanoi (VNA) – Deputy PrimeMinister Vuong Dinh Hue received the Chairman and CEO of the Republic ofKorea’s Kookmin (KB) Financial Group, Yoon Jong-kyoo, in Hanoi on September 7.
KB is a major RoK group with more than 1,130domestic branches and four overseas branches, serving over 30 million clients.
The KB executive thanked the Government ofVietnam for supporting his firm to operate effectively, affirming that theVietnamese market still holds much development potential and KB wants to expandcooperation in the financial-banking sector here.
With the help of local agencies, the KB grouppurchased the Maritime securities company and renamed it KB Securities VietnamJSC. Aside from the Kookmin Bank branch in Ho Chi Minh City, it is alsofinalising procedures for opening another branch in Hanoi.
KB will spend more than 110 million USD toexpand its activities in the country in the coming time, he noted.
For his part, Deputy PM Hue said the HCM Citybranch of the Kookmin Bank has operated effectively and practically contributedto economic ties between Vietnam and the RoK, as well as the development of thelocal financial-banking sector.
There is still great potential for bank’s businessin Vietnam, he said, voicing his belief that the KB group will develop morestrongly, thus benefiting both sides.
Hue added the Vietnamese Government alwayssupports and creates optimal conditions for both domestic and foreign investors,including those from the RoK.
He noted that the Government also pays attentionto increasing the scale of the financial market, particularly in the context ofthe Fourth Industrial Revolution. In the time ahead, it will push ahead withthe equitisation of and divestment from State-owned enterprises whileconsidering the issuance of some derivative products in the stock market. Italso plans to review and restructure credit companies and non-bank financialand credit institutions.
Welcoming the KB group’s expansion of investmentin the financial-banking sector, the Deputy PM said Prime Minister Nguyen XuanPhuc recently gave the green light to the State Bank of Vietnam to license theKookmin Bank’s opening of the Hanoi branch.
The Deputy PM also appreciated the Koreangroup’s activities to support low-income families and poor children and promotethe teaching of the Korean language in the country. –VNA
VNA