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South Korea's Kookmin Bank licensed to open Vietnam branch

By Reuters   December 11, 2018 | 08:06 pm PT
South Korea's Kookmin Bank licensed to open Vietnam branch
An employee counts Vietnamese dong banknotes at a bank in Ho Chi Minh City. Photo by VnExpress/Anh Tu
The State Bank of Vietnam has licensed South Korea’s Kookmin Bank to open a branch in Hanoi, the government said on Tuesday.

The branch has a chartered capital of $35 million and the contract runs for 99 years, the government said in a statement.

South Korea is the largest source of foreign direct investment in Vietnam and the Southeast Asian country’s second largest trading partner.

 
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