Plan to acquire by yourself with the goal of establishing a branch by the end of this year
Kwon Jun-hak, president of Nonghyup Bank, “Supporting the Beijing branch to serve as a base for the Korean Agricultural Cooperatives to advance into China”
[금융경제신문=정성화 기자] NH Nonghyup Bank announced on the 2nd that it has obtained preliminary authorization for the establishment of a’Beijing Branch’ in China from the’China Silverbo Supervisory Board’, which is the licensing authority for the Chinese financial industry.
Preliminary authorization means that the establishment of a branch office and the business plan have been reviewed by the authorization authority, and it is possible to apply for opening a business through establishment work such as store construction, computer construction, and hiring of human resources. Nonghyup Bank plans to acquire the final stage of self-price with the goal of establishing a branch by the end of this year.
The Nonghyup Bank achieved a feat of obtaining a preliminary authorization in about eight months amid the Corona 19 situation, starting with the application for establishment of a branch at the Silverbo Board of China in August of last year.
“China is the No. 1 country in Korea’s trade volume and an important global partner,” said Kwon Jun-hak, head of Nonghyup Bank. I will not spare any support so that I can do it,” he said.
Meanwhile, Nonghyup Bank is currently promoting the establishment of branches in four regions: Hong Kong, Sydney, Australia, Noida, India, and Ho Chi Minh City, Vietnam. In particular, the Sydney branch obtained permission to use the bank name from the Australian financial authorities last month.
Reporter Jeong Seong-hwa [email protected]
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