On April 22, 2026, at the headquarters of the State Bank of Vietnam (SBV), Deputy Governor Nguyen Ngoc Canh held a meeting with Mr. Chang Min Young, President and Chief Executive Officer (CEO) of the Industrial Bank of Korea (IBK).
Deputy Governor Nguyen Ngoc Canh meets with Mr. Chang Min Young, President and CEO of IBK
At the meeting, Deputy Governor Nguyen Ngoc Canh expressed his pleasure at the positive development of relations between Vietnam and the Republic of Korea (RoK) across various fields, including investment, trade, and finance-banking. On this occasion, the Deputy Governor congratulated IBK Vietnam on being granted a license to establish a wholly foreign-owned bank in Vietnam, noting that Korea currently has the largest presence of major financial institutions and banks operating in the Vietnamese market.
The Deputy Governor also shared that Vietnam regards the development of small and medium-sized enterprises (SMEs) as an important driving force for the national economy, playing a particularly vital role in economic growth, job creation, and social security. Therefore, the demand for capital to support business development, especially for SMEs in Vietnam, remains substantial. He expressed his hope that, with more than 60 years of experience, IBK Vietnam would continue to provide comprehensive financial services to Korean enterprises as well as Vietnamese SMEs.
For his part, Mr. Chang Min Young, President and CEO of IBK, stated that IBK was established with the mission of supporting SMEs, with 75% of its loan portfolio concentrated in this sector. He expressed confidence that IBK’s experience in developing and operating financial mechanisms for SMEs would serve as an important and valuable contribution to advisory and cooperation activities with Vietnam.
As a wholly foreign-owned bank operating in Vietnam, IBK Vietnam committed to quickly stabilizing its operations and conducting its business effectively, thereby contributing to the development of cooperative relations between the RoK and Vietnam.
Deputy Governor Nguyen Ngoc Canh and the IBK delegation take a group photo
In conclusion, Deputy Governor Nguyen Ngoc Canh suggested that IBK further promote Vietnam’s investment environment and policy framework to Korean enterprises, continue to serve a bridge connecting businesses of the two countries, expand supply chain financing programs, and support Vietnamese enterprises in participating more deeply in the global value chain.