KEB opens trade finance center in Hong Kong

A major Korean bank has opened a financial center in Hong Kong for the first time.

Korea Exchange Bank recently inaugurated its Global Trade Finance and Remittance Center, becoming the first South Korean bank to do so.

The center will centralize the processing of trade finance and overseas remittance services and provide the financial services necessary to grow Korea’s international trade. It is also expected to boost KEB’s profitability.

KEB also expects the financial center to provide a competitive edge in areas such as remittances to Asia and Europe.

Korea Exchange Bank is the largest foreign exchange bank in South Korea, providing the largest range of foreign exchange products. It is also the fifth largest bank in South Korea measured in assets.