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| NongHyup Bank CEO Lee Dae-hoon shakes hands with Stuart Laurence Ayres, New South Wales Minister for Jobs, Investment and Tourism, at the minister's office Aug. 22 (local time). Courtesy of NongHyup Bank |
By Lee Kyung-min
NongHyup Bank CEO Lee Dae-hoon visited China and Australia to experience the business environment there before pushing for further expansion in the two countries, the bank said Sunday.
"Lee returned home following a five-day trip to the two countries where he boosted ties with high-ranking financial figures. He also made sure that there will not be any unforeseen challenges in pushing forward with our plans to set up branches there," a bank official said.
During his two-day trip to Beijing, Lee met with the financial authorities and reaffirmed his commitment and their support for opening a branch there within the year.
Beginning in the latter half of 2021, the envisioned branch will serve as a key base for the bank to expand its business in the fast-rising market with enormous potential.
In Australia, Lee held meetings with the regulatory, trade, investment and state government authorities to seek their cooperation for the bank to enter the market in a country with an advanced financial system backed by stable governance with minimal geopolitical risks.
"We will seek to ink deals involving Investment banking services, state-run infrastructure projects and enhance financing services. Australia is a highly attractive market for us," the official added.
A successful entrance into the Australian investment banking market will help NongHyup, a latecomer to the advanced and sophisticated financial market, strengthening its global capabilities, as an investment business unlike retail requires a relatively smaller initial investment and manpower.
NongHyup plans to strengthen its global network by establishing at least 11 regional bases in over 10 countries by 2025.




































