The State Bank of Viet Nam last week gave the go-ahead approving the eligibility of the Republic of Korea’s Woori Bank to establish five branches in Viet Nam.
Petrolimex Joint Stock Insurance Corporation (PJICO), one of the top five non-life insurance companies in Viet Nam, signed a co-operation agreement on Thursday with the Republic of Korea’s Woori Bank to boost insurance packages.
Woori Bank is one of the nine wholly owned foreign banks in Viet Nam. It was granted licence for operations in the country in 2016, with a charter capital of VND3 trillion (US$131 million).
Institutions from the Republic of Korea (RoK) have increased their investment in Viet Nam’s financial market significantly, expecting to gain from the market, thanks to the economic growth outlook.
The State Bank of Viet Nam granted permission to the South Korean Woori
Bank''s branches in HCM City and Ha Noi to buy and sell government bonds
on October 30.