Woori Bank said Thursday it signed a memorandum of understanding with Viettel, Vietnam's largest mobile carrier, deepening ties between the two companies.
The signing took place Wednesday during a meeting between Woori Bank CEO Jung Jin-wan and officials from Viettel Global, including CEO Nguyen Thi Hoa and Vice President Nguyen Cao Loi.
Viettel is a state-owned corporation under Vietnam's Ministry of National Defence, while Viettel Global oversees the group's overseas telecommunications and digital investment businesses.
Under the agreement, the two sides will deepen their existing financial relationship and expand strategic cooperation in areas, including sharing information on Viettel's overseas operations and seeking additional financial support for investments in new markets.
The meeting took place on the sidelines of Jung's visit to Vietnam as part of President Lee Jae Myung's business delegation, where he also reviewed local financial market conditions and explored opportunities to expand Woori's overseas business.
"As the key operator of national infrastructure in Vietnam, Korea's third-largest trading partner and a country with enormous growth potential, Viettel will become a new growth driver for Woori Bank's global business," Jung said.
jwc@heraldcorp.com
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