Deputy Governor Nguyen Thi Hong of the State Bank of Vietnam (SBV) held a meeting with Mr. Lee Kyeong Seob, President–cum–CEO of NongHyup Bank, in Hanoi on December 1, 2016.
At the meeting, Mister Lee Kyeong Seob said that NongHyup Bank’s operations aimed to meet the financial demands of Korean farmers and member collectives, thereby improving the competition of the agricultural sector and economic development in South Korea. In Vietnam, NongHyup Bank established its representative office in 2012. Its branch in Hanoi was granted it's license on November 7, 2011. As scheduled, NongHyup Bank launched the inauguration of its branch in Hanoi on the evening of December 1, 2016.
Mister Lee Kyeong Seob said that the Hanoi branch of NongHyup Bank would be put into stable operation as soon as possible, and would continue to support the implementation of new banking services and operational network expansion in Vietnam.
Welcoming the NongHyup Bank’s delegation to Vietnam, the SBV Deputy Governor congratulated NongHyup Bank on the opening of its branch in Hanoi and hoped that it's presence would contribute to the development of Vietnam’s banking sector as well as bilateral relations between Vietnam and South Korea.
The SBV Deputy Governor said that Vietnamese Government would always facilitate foreign investors’ businesses and investments in Vietnam, and that SBV always supports and creates favorable conditions for foreign banks to operate. She said NongHyup Bank has a great deal of experience in banking operations for the agricultural sector, which the Government and the SBV have an interest in. Therefore, she hoped that the Hanoi branch of NongHyup Bank would operate strongly and effectively and comply with Vietnamese laws and contribute to the development of Vietnam’s banking sector.
TLH