Shinhan Bank CEO Shin Sanghyuk Expands Korean Financial Cooperation in Vietnam

Discussing Financial Cooperation with Deputy Governor of the State Bank of Vietnam
Business Agreements Signed with State-Owned Banks and ICT Companies on Corporate Finance

Shin Sanghyuk, CEO of Shinhan Bank, participated as part of the government-led Korean economic delegation to Vietnam from April 22 to 24, where he met with the Deputy Governor of the State Bank of Vietnam to discuss financial cooperation. He also signed business agreements with local state-owned banks and leading information and communications technology (ICT) companies, thereby expanding the bank's reach in corporate and digital finance.

On the 23rd, at the State Bank of Vietnam in Hanoi, Shinhan Bank President Jung Sanghyuk (left) took a commemorative photo after meeting with Nguyen Ngoc Canh, Vice Governor of the State Bank of Vietnam (SBV). Provided by Shinhan Bank

According to Shinhan Bank on April 27, CEO Shin met with Nguyen Ngoc Canh, Deputy Governor of the State Bank of Vietnam, on April 23. During their meeting, they discussed cooperation for financial support to help Korean companies expand into Vietnam, as well as ways to share expertise in digital and ESG (Environmental, Social, and Governance) fields. This meeting is significant in that it broadened the scope of financial cooperation between the two countries, building on the relationship that Shinhan Bank has cultivated over 33 years since it first entered the Vietnamese market in 1993.

CEO Shin also signed business agreements with three major local banks and companies. First, he signed a financial business agreement with Le Quang Binh, CEO of Vietcombank, a state-owned commercial bank in Vietnam, to support mutual market entry and business expansion of companies from both countries. Through this agreement, the two banks will expand cooperation in retail banking, foreign exchange transactions, capital markets, and digital transformation. Shinhan Bank also plans to strengthen corporate finance by supporting Korean companies’ entry into Vietnam and the expansion of their local operations.

The bank also signed an agreement with FPT Group, Vietnam's leading ICT company, to collaborate on mutual market entry for startups from both countries and on digital finance. Shinhan Bank plans to leverage its startup accelerator platform, 'Shinhan Future’s Lab,' to help promising startups achieve global growth.

In addition, CEO Shin signed an agreement with Agribank, one of Vietnam's four largest state-owned banks, to further strengthen the cooperation network. Through this partnership with Agribank, which has the largest network in Vietnam, Shinhan Bank intends to expand customized financial services for Vietnamese workers and students residing in Korea and other cross-border customers. The two banks will also share expertise in ESG management to foster a sustainable financial ecosystem.

CEO Shin stated, "Vietnam is an important market that symbolizes Shinhan Bank’s global growth roadmap," adding, "We will create productive financial best practices that support the global competitiveness of Korean companies and continue to pursue financial partnerships that realize shared prosperity with local communities."

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