Three-way MOU signed in Hanoi

Partnership covers local recruitment, tuition and living-expense remittances

NH NongHyup Bank, Agribank to expand cooperation on remittances, card marketing

NH NongHyup Bank signed an MOU with Vietnam's Agribank and Changwon National University in Hanoi on Thursday to support the recruitment of Vietnamese students and provide financial services. From left: Ji Seong-uk, head of NH NongHyup Bank's Hanoi Financial Center; Park Min-won, president of Changwon National University; and Pham Ngoc Diep, deputy head of Agribank's Foreign Exchange Settlement Center. [NH NongHyup Bank]
NH NongHyup Bank signed an MOU with Vietnam's Agribank and Changwon National University in Hanoi on Thursday to support the recruitment of Vietnamese students and provide financial services. From left: Ji Seong-uk, head of NH NongHyup Bank's Hanoi Financial Center; Park Min-won, president of Changwon National University; and Pham Ngoc Diep, deputy head of Agribank's Foreign Exchange Settlement Center. [NH NongHyup Bank]

NH NongHyup Bank has teamed up with Vietnam's Agribank and Changwon National University to support the recruitment of Vietnamese students and provide them with financial services.

The bank announced Friday that it signed an MOU with Agribank and Changwon National University in Hanoi on Thursday, formalizing the three-way partnership.

Under the agreement, Agribank will use its local branch network and other in-country channels to support Changwon National University's student recruitment efforts in Vietnam, helping raise the university's profile and attract prospective students.

NH NongHyup Bank and Agribank will also link financial services for students from the pre-departure stage through their enrollment in South Korea. The two banks plan to offer foreign exchange services — including tuition and living-expense remittances — as well as other financial products needed before and after students begin their studies.

NH NongHyup Bank and Agribank signed a strategic cooperation MOU in April, under which they have been pursuing customer base expansion, card-based overseas remittance services, K-content-linked card marketing and cooperation on Agribank's privatization. In July, Agribank President Pham Toan Vuong and other executives and staff visited South Korea for a follow-up strategy meeting.

"This agreement is meaningful in that it supports Changwon National University — one of our institutional customers — in recruiting Vietnamese students, while at the same time providing those students with convenient financial services and expanding our foreign customer base," said Ji Seong-uk, head of NH NongHyup Bank's Hanoi Financial Center. "We will work closely together to develop this into a cooperation model that benefits Vietnamese students, Changwon National University and Agribank alike."

Meanwhile, NH NongHyup Bank has been stepping up efforts to grow its foreign customer base domestically. The bank operates a specialized advisory center for companies with foreign direct investment and has been expanding financial services targeting foreign customers and businesses.


rim@heraldcorp.com