Woori Bank Opens 'Hungary Office'... Fourth European Network
Office Opened in the Capital Budapest
[Asia Economy Reporter Jin-ho Kim] Woori Bank announced on the 7th that it obtained local approval from the Hungarian Central Bank on the 30th of last month and opened an office in Budapest, Hungary.
Hungary, located at the geographical center of Eastern Europe, is experiencing rapid economic growth centered on promising industries such as automobiles, secondary batteries, and IT, thanks to its low corporate tax rate and preferential policies for foreign-invested companies. In particular, South Korea is also Hungary's largest investor.
Woori Bank plans to provide financial support to domestic companies that have entered Eastern Europe and local companies through its Hungary office.
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A Woori Bank official stated, "The entry into Hungary establishes a local network that extends from the European branch located in Germany to the UK, Poland, Russia, and Dubai," adding, "We will strengthen competitiveness in corporate finance (IB) deals and loans to local excellent companies through financial support for Korean companies operating locally and cooperation among networks."
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