Two Korean Banks Hopeful of Winning Approval to Open Myanmar Branches

YANGON—Two South Korean banks involved separately in a low-income housing project and a joint industrial complex construction project in Yangon are hopeful of winning Myanmar government approval to offer banking services in the country soon. If they are granted licenses, KB Kookmin Bank, one of South Korea’s largest banks, and Industrial Bank of Korea (IBK) […]

South Korea’s Busan Bank to open office

South Korea’s Busan Bank has registered with the Directorate of Investment and Company Administration (DICA) to open a representative office in Myanmar, through DICA’s one-stop-shop service, according to the regulator’s website. Busan Bank, a subsidiary of Korean holding company BNK Financial Group, will join a number of other South Korean financial institutions in opening a […]