From right, Woori Bank CEO Jung Jin-wan, Bae Tae-in, head of the bank's Vietnamese unit, Nguyen Cao Loi, deputy general director of Viettel Global, and Nguyen Thi Hoa, CEO of Viettel Global, stand together during a memorandum of understanding signing ceremony at Viettel Global's headquarters in Hanoi, Vietnam, Wednesday. Courtesy of Woori Bank
Woori Bank has partnered with Viettel Global, a subsidiary of Vietnam's largest telecommunications group Viettel, as the Korean lender seeks to expand its footprint in the Southeast Asian nation, the bank said Thursday.
The two sides signed a memorandum of understanding (MOU) the previous day to deepen financial cooperation, building on existing transactions between Woori Bank's Vietnamese unit and Viettel Global.
The signing ceremony, which took place at Viettel's headquarters in Hanoi, was attended by Woori Bank CEO Jung Jin-wan, Bae Tae-in, head of Woori Bank's Vietnam unit, Nguyen Thi Hoa, CEO of Viettel Global, and Nguyen Cao Loi, deputy general director of Viettel Global.
Jung was part of a business delegation accompanying President Lee Jae Myung on a three-day visit to Hanoi, where the CEO reviewed local financial market conditions and explored opportunities to expand Woori's overseas operations.
Under the deal, the two sides plan to expand cooperation beyond conventional financing, including sharing information related to Viettel's overseas business and providing additional support for new market investments, Woori said.
"Vietnam, one of Korea's top three trading partners with strong growth potential, offers a meaningful opportunity. Cooperation with Viettel, which is responsible for the country’s core infrastructure, will serve as a new growth driver for Woori Bank's global business," Jung said.
"We will continue to provide a wide range of financial services to local customers in Vietnam as well as Korean companies through innovative services," he added.
Viettel Global oversees the group's international telecom and digital investment operations across more than 10 countries in Southeast Asia, Latin America and Africa. The company is part of Viettel Group, which is wholly owned by Vietnam's Ministry of National Defense.
Source: Korea Times News
