Yoon Jong-won, CEO of IBK, Promotes Strengthening SME Finance Cooperation Between Korea and Vietnam

On the 29th of last month, Yoon Jong-won, President of IBK Industrial Bank, signed an MOU at the headquarters of VinaCapital Group in Ho Chi Minh.

[Asia Economy Reporter Bu Aeri] IBK Industrial Bank announced on the 1st that President Yoon Jong-won discussed SME finance cooperation projects with the Vietnamese government and financial institutions during his 5-day, 3-night business trip to Vietnam.

President Yoon returned home on the 30th after completing his business trip to Vietnam. On the 27th and 28th of last month, President Yoon met with Doan Thai Son, Deputy Governor of the State Bank of Vietnam, and Mai Thi Thu Van, Deputy Minister of the Prime Minister's Office, to discuss IBK Industrial Bank's expansion into Vietnam.

IBK Industrial Bank currently operates two branches in Hanoi and Ho Chi Minh City and plans to expand its branch network. The bank aims to strengthen financial support for domestic companies entering Vietnam and local businesses by opening branches in major industrial complexes.

President Yoon visited the business sites of local clients such as Intops, Seowon Intech, and Daeyoung Electronics and held meetings with heads of local subsidiaries of these companies.

In Ho Chi Minh City, President Yoon signed a Memorandum of Understanding (MOU) with VinaCapital Group, Vietnam's largest asset management company, to share know-how on venture capital investment and promote joint projects.

An IBK Industrial Bank official stated, "We expect to support domestic startups and small and medium-sized venture companies entering Vietnam and create new business opportunities within Vietnam linked to the establishment of local subsidiaries."