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Busan Bank Opens First Overseas Branch in China
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Date
2012.11.30
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823
According to Yonhap News,
Busan Bank will open its branch in Qingdao, China, for the first time for a regional bank to establish its branch in China.
Busan Bank completed necessary approval procedures for the establishment of the branch.
It has operated an office for two years since June 2008 to satisfy requirements to open a branch according to the Chinese law and then applied for transforming the office to a branch.
Qingdao, in particular, has many Korean companies doing operation. As 500 Korean companies from Busan, Ulsan and south Gyeongsang Province do business in the region, exchanges between Busan and Qingdao are facilitated.
Busan is also operating an office in Vietnam and has applied for the establishment of branch.