Hikvision Challenges FCC Rule Tightening Restrictions on Chinese Telecom Equipment 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Momenta Quietly Moves Toward Hong Kong IPO Amid Rising China-U.S. Tensions 
Airline Loyalty Programs Face New Uncertainty as Visa–Mastercard Fee Settlement Evolves 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
YouTube Agrees to Follow Australia’s New Under-16 Social Media Ban 
USPS Expands Electric Vehicle Fleet as Nationwide Transition Accelerates 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Rio Tinto Raises 2025 Copper Output Outlook as Oyu Tolgoi Expansion Accelerates 
IKEA Launches First New Zealand Store, Marking Expansion Into Its 64th Global Market 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
EU Prepares Antitrust Probe Into Meta’s AI Integration on WhatsApp 
Michael Dell Pledges $6.25 Billion to Boost Children’s Investment Accounts Under Trump Initiative 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Amazon Italy Pays €180M in Compensation as Delivery Staff Probe Ends 
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.
