Ten representative offices of South Korean banks have been set up in Viet Nam so far. — Photo interest.com.nz

HA NOI (Biz Hub) — Daegu Bank of South Korea opened its new representative office in HCM City on December 3, baodautu.vn reported.

The new office's operations include market research and implementation of bank-funded projects, as well as projects agreed upon by the bank and Vietnamese enterprises and credit organisations.

At a meeting between leaders of the State Bank of Viet Nam (SBV) and Daegu Bank here last December 1, SBV Deputy Governor Nguyen Phuoc Thanh lauded the office opening, saying the bank's presence would contribute to the country's socio-economic development and enhance co-operation between the two countries.

The bank's general director said Viet Nam was an important and potential market for the bank, which would support South Korean enterprises in Viet Nam as well as Vietnamese individuals and enterprises.

SBV figures show that so far, foreign banks have set up 50 representative offices in the country, and 10 of these offices were those of South Korean banks. — VNS