Vietnam, US Trade Deal Could Be Signed Soon, To Lam Says 
Goldman Sachs Names Simon Lyons UK Investment Banking Co-Head 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
SoftBank Raises $11.1 Billion in Bond Sale to Fund OpenAI Investment 
Dollar Hits Two-Month High as Fed Rate Hike Bets Rise 
Novo Nordisk Weighs Direct NYSE Listing to Boost U.S. Profile 
Oil Prices Extend Losses as U.S.-Iran Talks Ease Supply Fears 
U.S. Dollar Hits Eight-Week High After Fed Rate Hike 
Oil Prices Surge as U.S.-Iran Diplomacy Hopes Fade 
Paramount-Warner Bros $110 Billion Deal Draws Antitrust Backlash 
Prysmian, Rio Tinto Supply Low-Carbon Cables for Amazon Ohio Data Center 
European Stocks Slip as Iran Tensions Offset Strong Eurozone Data 
U.S. 10-Year Treasury Yield Hits 2007 High as Fed Rate Hike Bets Rise 
Gold Prices Rise as Oil Slide Eases Fed Rate Hike Fears 
Gold Prices Slip as Strong Dollar and Hawkish Fed Pressure Bullion 
NASA, Boeing Discuss Expanding Starliner Missions 
Trump Bans CNN, MS NOW and Politico From White House 
Add as a preferred source on Google
NH NongHyup Bank announced on Thursday, Aug. 12, that it has opened an office in the capital of England and the United Kingdom. The South Korean agricultural bank headquartered in Jung-gu, Seoul, launched a branch in London to advance in the territory’s banking industry.
The Korea Herald reported that the move is also part of NH NongHyup Bank’s business strategy to expand and widen its global reach and presence. Prior to the public announcement, it was said that NH NongHyup Bank chief executive officer, Kwon Joon Hak, hosted a ceremony to celebrate the opening of its London branch.
The event was held virtually due to COVID-19, but it was well-attended by officials. It was mentioned that the country’s financial authorities Kim Jun Han and Jang Kyung Woon, were present. The former is also serving as regional chief of Bank of Korea’s London branch while the latter heads the Financial Supervisory Service.
Korea’s Deputy Foreign Minister Kim Gunn, the recently appointed ambassador to Britain, and Janet Coyle, an executive at London & Partners, have also attended the virtual gathering to congratulate NH NongHyup Bank for its new start in London.
“It is meaningful that NH NongHyup Bank has entered the UK market, Europe‘s major global financial center and the birthplace of financial cooperatives, in 2021, which marks its 60th anniversary,” CEO Kwon said in a statement. “We will speed up efforts to become a global cooperative bank by strengthening business partnership with advanced financial markets, including New York and Hong Kong.”
According to The Korea Times, NH NongHyup Bank was asked about the specific role that its Seoul headquarters will have in the London branch, but officials were said to have declined to comment. But since the UK region is a major hub for private and investment banking, it was suggested that the Korean financial institution will explore its chances to set off its investment banking management skills.
Meanwhile, NH NongHyup Bank is currently operating at least 10 branches across eight countries such as China, the U.S., and Vietnam. It was learned that the bank’s ambitious goal is to set up 28 branches in 13 major countries by the year 2025 to reach ₩160 billion or $138 million net profit in the target year.
