Daegu Bank of the Republic of Korea (RoK) is preparing to open a branch in Ho Chi Minh City after getting the green light from the State Bank of Vietnam (SBV).
The presence of Daegu Bank in HCM City is welcome as a large number of Korean businesses invest in the southern metropolis. (Photo: dgb.co.kr)
Hanoi (VNA) - Daegu Bank of the Republic of Korea (RoK) is preparing toopen a branch in Ho Chi Minh City after getting the green light fromthe State Bank of Vietnam (SBV).
Under a document releasedlate last week, the SBVapproved in principle the establishment of Daegu Bank’s HCM City branch.
The Korean bank isresponsible for completing procedures in accordance with the SBV’s regulationsand instructions to submit to the SBV’s Governor for consideration and decisionon licensing the establishment of the branch, the SBV stated in the document.
The presence of the bank inHCM City is welcomed as a large number of Korean businesses invest in thesouthern metropolis.
Korean investment in Vietnam has expanded over the years with a riseof 37 percent each year, making the RoK the largest foreign investor among the 132 countries andterritories investing in Vietnam, at 80 billion USD by the end of November 2019.
The Korea Tradeand Investment Promotion Agency (KOTRA) forecast the wave of Koreaninvestment in Vietnamis continuing as the Southeast Asian nation is considered a favourableinvestment destination for Korean investors.
KOTRA reported that Koreanfirms have high hopes for Vietnam’s growth potential and highly evaluate the skills anddiligence of workers.
Besides Korean banks, foreign finance institutions from other countriesare also promoting their in-depth development in the Vietnamese market. Thecountry currently houses nine foreign-owned banks, about 50 foreign bankbranches, more than 50 representative offices of foreign credit institutionsand many foreign-owned finance companies./.
The State Bank of Vietnam (SBV) will rank credit institutions and foreign bank branches operating in the country in a move to ensure the safety of the banking system and protect legitimate rights of depositors.
The Government should help Vietnamese banks lure capital and experience from prestigious foreign banks so as to help local firms develop sustainably, experts said.
The competition in the Vietnamese finance and banking market has become fiercer as existing foreign institutions are rushing to increase capital even as new entrants continually join the market.
The Vietnam – Korea Businessmen and Investment Association (VKBIA) held a ceremony in Seoul on December 21 to announce a decision to establish its chapter in Gyeonggi province, a move to expand its membership and enhance Vietnam – Korea investment connectivity.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
The presence of Daegu Bank in HCM City is welcome as a large number of Korean businesses invest in the southern metropolis. (Photo: dgb.co.kr) 
