South Korea's Busan Bank open for business in Ho Chi Minh City

By Dam Tuan   June 1, 2016 | 03:16 pm GMT+7

The State Bank of Vietnam issued a license for Busan Bank to start trading on May 27 at its new branch in Ho Chi Minh City's District 1.

The move is aimed at supporting South Korean investors in Vietnam, according to the State Bank of Vietnam.

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Busan Bank has opened a branch in Ho Chi Minh City to support South Korean investors. Photo by thoibaonganhang.vn

Busan Bank Co., Ltd - Ho Chi Minh City Branch has charter capital of $35 million and has been granted a license that is valid for 99 years.

The branch is permitted to conduct commercial banking operations in line with the law and SBV regulations.