NICE Group announces new legal entity in Vietnam

By VnExpress   November 27, 2016 | 01:16 pm GMT+7
NICE Group announces new legal entity in Vietnam
From left to right, Mr. Shim Eui Young – CEO of NICE Information Service, Mr. Kim Kwang Soo- Chairman of NICE Group, Deputy Governor of SBV Vietnam, Mr. Hong Woo Sun - CEO of NICE I & T Co

NICE Group has announced its new legal entity in Vietnam at a ceremony at Lotte Hotel in Hanoi.

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NICE Group, a major credit rating and information service provider in South Korea, on November 25, announced its new legal entity in Vietnam at a ceremony at Lotte Hotel in Hanoi.

The ceremony celebrated the establishment of NICE’s first legal entity in Vietnam - NICE INFO Vietnam Co. Ltd. NICE believes that its business activities will be constantly growing in Vietnam and contributing to the strong growth of the country’s financial market.

Seeing Vietnam as an important market since 2011, NICE has built a strategic relationship with the Credit Information Center (CIC), a unit of the State Bank of Vietnam and then in 2014, NICE established a representative office in the country. NICE and CIC together provided credit rating model for corporate in 2014 and a rating model for individual in 2015.

With its expertise, NICE looks forward to continuously providing consulting services on credit rating models for commercial banks in Vietnam.

Besides solutions on risk management, NICE is also expected to expand its service to provide solutions and infrastructure support for payment services in Vietnam. NICE currently holds a 30-percent market share in VAN (value-added network) credit card market in South Korea and it is hoping to expand its presence in foreign markets.

NICE has bought a 50 percent stake in Indonesian company IONPAY and since this May, the corporation has officially started providing payment services for online shopping sites such as Shopee, Q10 and Elevenia. In Vietnam, NICE is actively looking for opportunities.

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Deputy Governor of SBV Vietnam Mr. Nguyen Dong Tien, Deputy Chair of the Vietnam National Assembly's Economic Committee Mr. Duong Quoc Anh,  Ambassador of Korea Embassy Mr. Lee Hyuk, Deputy Governor of Korea Financial Supervisory Service (KFSS) Mr. Park Sae Chun, inaugurated NICE INFO VINA Company with senior executive of the NICE Group

Kim Kwang-soo, Chairman of NICE, and other leaders of the group joined Friday's event with other guests, including Nguyen Dong Tien, deputy governor of the State Bank of Vietnam; Duong Quoc Anh, deputy chair of the National Assembly’s Economic Committee; Do Hoang Phong, director of the Credit Information Center and other executives of commercial banks operating in Vietnam.

Tags: Vietnam