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South Korea's Kookmin Bank licensed to open Vietnam branch

South Korea's Kookmin Bank licensed to open Vietnam branch

Wednesday, December 12, 2018, 10:36 GMT+7
South Korea's Kookmin Bank licensed to open Vietnam branch
A customer walks past a Kookmin Bank logo at the bank's branch office in Seoul February 10, 2011. Photo: Reuters

HANOI -- The State Bank of Vietnam has licensed South Korea’s Kookmin Bank to open a branch in Hanoi, the government said on Tuesday.

The branch has a chartered capital of $35 million and the contract runs for 99 years, the government said in a statement.

South Korea is the largest source of foreign direct investment in Vietnam and the Southeast Asian country’s second largest trading partner. 

Reuters

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