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Woori Bank’s Vietnam subsidiary plan gets preliminary approval
By 최희석Published : Aug. 2, 2016 - 17:01
[THE INVESTOR] Woori Bank said on Aug. 2 that its plan for establishing a subsidiary in Vietnam has received preliminary approval from the State Bank of Vietnam. The South Korean bank currently has two branches in Hanoi and Ho Chi Minh City.
Woori Bank said that the establishment of a subsidiary in Vietnam will allow it to expand its presence in the country.
The bank expects the subsidiary to be established around October, and plans to open three more branches within the year. The bank said that in the following years, it will open five to seven branches annually to expand its network to 20 branches.
In addition, Woori Card plans to enter the Vietnamese market next year.
By Choi He-suk (cheesuk@heraldcorp.com)
Woori Bank said that the establishment of a subsidiary in Vietnam will allow it to expand its presence in the country.
The bank expects the subsidiary to be established around October, and plans to open three more branches within the year. The bank said that in the following years, it will open five to seven branches annually to expand its network to 20 branches.
In addition, Woori Card plans to enter the Vietnamese market next year.
By Choi He-suk (cheesuk@heraldcorp.com)
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