OpenAI Rejects Apple Trade Secret Theft Claims 
Asian Currencies Weaken as Dollar Rises, Kiwi Slides After RBNZ Hike 
ByteDance Secures $29.6 Billion Loan to Boost AI Investment 
Lenovo Shares Fall After Dropbox Security Breach Exposes ID Vulnerability 
Berkshire Hathaway Eyes Bigger Stakes in Japan’s Top Trading Houses 
Yen Extends Gains as BOJ Rate Hike Bets Rise 
Australia GDP Beats Forecast, Boosting RBA Rate Hike Bets 
Microsoft to Reveal Azure Revenue in Major Reporting Shake-Up 
RBNZ Raises Interest Rate to 2.75%, Kiwi Dollar Slides 
Gold Prices Slide as Iran Conflict Fuels Fed Rate Hike Bets 
South Korea Inflation Rises to 3.1% in August 
GM Canada Workers Approve C$1.1 Billion Investment Deal 
Bank of England Sees Surge in Higher-Risk Collateral 
South Korea Unveils Record $597 Billion 2027 Budget to Boost AI and Chips 
Asian Stocks Tumble as Oil Surge Fuels Rate Hike Fears 
Australia Trade Surplus Beats Forecasts in July as Exports Fall 
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.
