Hana Bank Partners with Vietnam's BIDV on Infrastructure Cooperation... Launches QR Payment Service

Hana Bank is strengthening its accessibility to the Vietnamese financial ecosystem through infrastructure and payment cooperation with the Bank for Investment and Development of Vietnam (BIDV), the nation’s largest bank. In this context, the bank has also officially launched a "QR payment service" for Korean tourists visiting Vietnam.

Lee Hosung, President of Hana Bank (left), is seen signing a tripartite memorandum of understanding for cooperation on infrastructure projects in Vietnam and overseas with Le Ngoc Lam, President of BIDV Bank, and Kim Bokhwan, President of Korea Overseas Infrastructure & Urban Development Corporation (KIND), at the Korea-Vietnam Business Forum held in Hanoi, Vietnam on the 23rd. Photo provided by Hana Bank

원본보기 아이콘

On April 23, Hana Bank announced that it had signed a memorandum of understanding to enhance cooperation on infrastructure projects in Vietnam with BIDV and the Korea Overseas Infrastructure & Urban Development Corporation (KIND) at the “Korea-Vietnam Business Forum” held in Hanoi, Vietnam.

This agreement was signed during the Korea-Vietnam Business Forum, which was organized in conjunction with President Lee Jaemyung’s visit to Vietnam. The aim is to establish a cooperative relationship with BIDV and develop a partnership system linking investment development and finance.

Through this business agreement, Hana Bank plans to establish strategic partnerships in the fields of infrastructure, energy, urban development, and green industries, and to jointly discover high-quality investment opportunities that can facilitate the entry of Korean companies. Furthermore, the three organizations agreed to continuously expand the foundation for public-private cooperation between Korea and Vietnam through various collaboration networks and local events in the future.

On the same day, Hana Bank’s subsidiary GLN also officially launched the "QR payment service" for Korean tourists visiting Vietnam, in partnership with BIDV and NAPAS, the Vietnamese national payment corporation.

This service is being implemented under the official approval of the State Bank of Vietnam (SBV), and Hana Bank is participating as the only settlement bank among domestic financial institutions. GLN will be responsible for operating the payment system directly connected to the Vietnamese national QR payment network, and, together with Hana Bank, will work to establish a local QR payment service in Vietnam.

Through this initiative, Hana Bank provides Korean tourists with a “QR payment service” that enables them to make payments at affiliated merchants across major Vietnamese tourist destinations such as Danang, Phu Quoc, Nha Trang, and Ho Chi Minh City, using their domestic banking or fintech apps without the need for currency exchange or installing local apps. This service is available through major apps including Hana Bank, Hana Card, Hana Money, Toss, and PurpleGLN, and will later be expanded to include Naver Pay and other domestic banks.

Lee Hosung, President of Hana Bank, stated, “This agreement and service launch will create tangible value by combining the growth potential of Vietnam with Hana Bank’s global financial capabilities. We will provide convenient and reliable financial services through a strategy that encompasses infrastructure finance and digital payments, while continuing to advance our global payment network.”

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.