Vietnam Woori Bank Builds 'Derivative Product System'... Launches Related Product Sales

Exterior view of Vietnam Woori Bank.

[Asia Economy Reporter Song Seung-seop] Woori Bank's local subsidiary, 'Vietnam Woori Bank,' has completed the establishment of its derivatives system and has begun its operation.

According to Woori Bank on the 12th, with the establishment of the derivatives system, companies trading with Vietnam Woori Bank can now utilize products to prepare for market volatility. To develop the system, Vietnam Woori Bank prepared for one year by advancing its IT system, securing specialized personnel, and reorganizing its internal control organization.

Vietnam Woori Bank plans to expand its business scope across all derivatives operations, such as interest rate swaps and currency swaps, by additionally acquiring an interest rate derivatives license. It also intends to secure various business opportunities with local high-quality companies to create new business opportunities for future growth.

A Woori Bank official emphasized, "We swiftly promoted the system establishment to meet customer needs for market risk hedge products," adding, "Based on the extensive business experience and operational know-how accumulated in the domestic derivatives market, we will continue to provide financial services for stable risk management to customers locally in Vietnam."

This content was produced with the assistance of AI translation services.