Woori Bank has received preliminary approval from Vietnam's central bank to open a subsidiary in the Southeast Asian country, the bank said in a statement on Tuesday.
Woori Bank already has branches in Hanoi and Ho Chi Minh City, and plans to quickly expand its operations with three new branches in Vietnam this year. In a bid to gain a strong foothold in the market, Woori Bank hopes to increase its network to 20 branches in the next few years.
The bank is set to launch the Hanoi-based subsidiary around October this year with an ambitious plan to become one of the top foreign banks in Vietnam.
The bank said it is going to introduce its credit card services in the first half of 2017 and mobile banking service Wibbe Bank in a move to diversify its sales channels and expand its local customer base.
In a bid to break into Asia’s top 10 financial institutions and the top 50 in the world, Woori Bank expects 30 percent of its revenue to come from overseas markets.
South Korean banks are looking at overseas markets in search of new sources of profit as domestic demand nears saturation.
Từ vựng liên quan
Tin tức liên quan
DNA tests confirm father in Vietnam's shocking deathrow pregnancy case
news | 130486605The inmate is believed to impregnate herself with semen sold to her in a plastic bag.
Cong Tri’s heads-turning Emmy dress wins international kudos
style | 294916569The dress actress Julia Garner wore at Emmy 2019 has won designer Cong Tri gushing praise from the likes of Elle and Vogue.
Syria: seven years of conflict
world | 36156603From the bloody repression of peaceful protests against President Bashar al-Assad's regime to several foreign interventions, below are key dates in Syria's civil war.
Philippines' Duterte warns US of 'tit-for-tat' response
world | 88856616'Bye bye America,' said Philippine President Rodrigo Duterte.
Extend feed-in-tariff incentives, say foreign business associations
industries | 86166610Foreign organizations like AmCham and BritCham want Vietnam to delay lowering its feed-in tariffs for wind power projects in order to benefit more investors.
Vietnam most likely Asia-Pacific nation to encounter ransomware: Microsoft
news | 80996618Vietnam had the highest encounter rate with ransomware in the Asia-Pacific region in 2019, a recent Microsoft cybersecurity report says.
Vietnam’s Gen Z stuck on Facebook despite app deluge
news | 77116624Though Generation Z phone users have more choice when it comes to new apps, many still prefer going old school.
Blaze devastates Notre-Dame, Paris firefighters fear for one bell tower
world | 152286627A massive fire consumed Notre-Dame Cathedral Monday, destroying the roof of the historic Paris landmark in a roaring blaze as firefighters battled to prevent one of the main bell towers from collapsing.