The State Bank of Vietnam (SBV) has granted a licence for the establishment of a wholly foreign-owned bank to the Industrial Bank of Korea (IBK), marking a new step forward in attracting international financial investment and expanding the presence of Korean financial institutions in Vietnam.

Deputy Prime Minister Ho Duc Phoc hosted a reception for Kim Sung-tae, Chairman and CEO of the Industrial Bank of Korea (IBK) in Hanoi on September 23.

Minister of Planning and Investment Nguyen Chi Dung has called on the Korea Federation of SMEs (KBIZ) and the Industrial Bank of Korea (IBK) to continue supporting small- and medium-sized enterprises (SMEs) in Vietnam.

Deputy Prime Minister Le Minh Khai hosted a reception in Hanoi on June 23 for President and CEO of the Industrial Bank of Korea (IBK) Kim Sung-tae and Chairman and CEO of the Korea Development Bank (KDB) Kang Seoghoon who are accompanying President of the Republic of Korea (RoK) Yoon Suk Yeol during his ongoing state visit to Vietnam.