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THE INVESTOR]
KEB Hana Bank announced on Sept. 20 that it has signed a memorandum of understanding with China Everbright Bank for comprehensive cooperation.
KEB, with its overseas network spread in 24 countries, will provide support for the Chinese bank’s customers including trade finance and overseas remittance.
China Everbright Bank, in turn, will aid the Chinese operations of KEB, which has been selected as one of the two clearing houses for won-yuan direct trading in the country.
The Chinese bank, established in 1992, is the 12th largest bank in China by tier 1 capital with over 1,000 branches.
By Hwang You-mee (
glamazon@heraldcorp.com)
