Bo-eun leads the digital content team. She has covered foreign affairs, North Korea, tech, economy and gender issues at The Korea Times. She did a short stint at the South China Morning Post in Hong Kong, where she obtained a new perspective on news production and life. Small sources of joy for her are lounging in the sun, having a good latte and swimming.
Kookmin Bank seeking to enter Myanmar
KB Kookmin Bank CEO Hur Yin
By Kim Bo-eun
By Kim Bo-eun
KB Kookmin Bank is seeking to enter the Myanmar market, the bank said Monday.
“We're planning to apply for a banking license as soon as the notification is made by Myanmar's financial authorities,” a KB Kookmin Bank official said.
Earlier in 2014 the bank applied for the license, but failed to obtain it.
KB already has its microfinancing subsidiary KB Finance there, which was established in March 2017. It is providing housing loans and micro lending through 13 of its branches.
On July 4, Myanmar's Minister of Construction U Han Zaw and other high-level officials visited Kookmin Bank's headquarters on Yeouido, Seoul, and discussed ways they could cooperate.
According to the bank, the Myanmar authorities are interested in learning about housing finance from Kookmin Bank, which is specialized in the field as it merged with the Housing and Commercial Bank in 2001.
“If KB starts a banking business in Myanmar, it could create synergy with the micro financing subsidiary there,” the Kookmin official said.
Major banks here have been aggressively expanding their presence overseas, especially in the fast-growing economies in the Southeast Asian region. Kookmin has been slow to follow suit and currently has the lowest number of overseas subsidiaries.