KB Securities Accelerates Vietnam Expansion... Launches Digital Financial Platform 'KB Fina'

Joint Venture with Local SNS No.1 G Group... "Leap to Vietnam Digital Hub"

On the 19th in Hanoi, Vietnam, Park Cheonsu, Head of Global Business Division at KB Securities (right), and Phuong An Thu, CEO of G Group (left), are taking a photo with employees during the launch ceremony of the digital financial platform 'KB Fina'. (Provided by KB Securities)

[Asia Economy Reporter Minwoo Lee] KB Securities has partnered with Vietnamese companies to launch a digital financial platform. The strategy is to target the market by offering local customers financial products and content that are more convenient than traditional financial markets.

KB Securities announced on the 20th that it held the launch ceremony for the digital financial platform 'KB Fina' in Hanoi, Vietnam on the 19th.

'KB Fina' was created in collaboration with the local Vietnamese G Group to provide Vietnamese citizens with financial products and content in a digitalized financial service that is easier and more convenient than traditional financial markets. G Group is the leading local social network service (SNS) company in Vietnam, operating consumer finance, media, and entertainment businesses, with about 20 million high-value customers.

Despite COVID-19, Vietnam continues to maintain stable economic growth, and digital mobile transactions among the 20-30 age group are rapidly increasing. The strategy is interpreted as targeting the market through rapid localization based on digital technology. 'KB Fina' is the first result this year that combines the global business expansion and financial platform construction under KB Financial Group's management strategy direction for this year, the 'R.E.N.E.W' strategy. KB Securities President Sunghyun Kim stated, "'KB Fina' will not only serve as a securities financial content platform but also leap forward as KB Financial Group's digital hub in Vietnam."

Meanwhile, about 120 people attended the launch ceremony, including Nguyen Huy Dung, Vice Minister of the Ministry of Information and Communications of Vietnam, Phuong An Thu, CEO of G Group, Park Chansu, Head of Global Business Division at KB Securities, and other KB Financial Group officials.

Executive Director Park said, "We will provide high-quality financial products and content to the Vietnamese people and nurture 'KB Fina' as KB Financial Group's representative comprehensive financial platform business." He added, "Based on this, we aim to contribute to Vietnamese society by supporting the elimination of financial gaps between social classes."