KB Securities Vietnam launched to bring South Korean capital to Vietnam
KB Securities Vietnam launched to bring South Korean capital to Vietnam
The KB Securities Vietnam brand has officially been launched on January 29, laying the foundations for development of the Korean-backed securities firm in Vietnam and promising to bring more capital from the East Asia nation to the local market.
On the same day, KB Securities Vietnam (KBSV) has held the opening ceremony of its new head office and transaction office at 88 Lang Ha Street, Dong Da district in Hanoi, which is built in a modern and luxurious style, accentuating KB Financial Group’s (KBFG) identity, promising to bring comfort and optimal services for customers and partners.
According to Chun Byoung Jo, CEO of KB Securities (Korea), given the abundant experience and strong support from KBFG as well as KB Securities in Korea, KBSV will grow into a leading securities company in Vietnam, matching KB’s position in Korea.
“We are focused on the development of KBSV as a precondition for the breakthrough and achieving important milestones for KBFG in Vietnam,” he said. “We are committed to providing the best products and utilities to meet the needs of Vietnamese customers as well as connecting the needs of Korean investors with this potential market.”
“Korea has emerged as a nation with the largest foreign direct and indirect capital inflows to Vietnam in recent years, with roughly $60 billion. This shows Korea’s great confidence in local economic growth, as well as the political stability and the cultural similarities between the two nations,” said Mac Quang Huy, CEO of KBSV, at the brand launching event in Hanoi.
Following the name and brand identity changes, in 2018 KBSV will up its charter capital and improve its human recourses and IT system. The securities firm, according to Huy, will also develop new products, including derivatives.
“We will grow all of our business lines in sync, from retail to wholesale, securities services, and our investment banking arm in Vietnam,” he noted.
The launch of the KBSV brand is an important part of KBSV’s expansion plan in Southeast Asia, including Vietnam and Indonesia. In the time to come, the group is expected to invest robustly in the local market, helping to prove the attractiveness of the Vietnamese market to foreign investors.
On January 17, Maritime Securities Incorporation (MSI) brand was changed into KB Securities Vietnam (KBSV), in line with Decision No.07/GPDC-UBCK issued by the local State Securities Commission.
KBSV became a member of Korea’s KBFG on October 9, 2017, following the deal in which KBFG took over 99.4 per cent of the holdings at MSI.
KBFG has the largest customer base and the most extensive branch network in Korea. KBFG’s key subsidiaries include KB Kookmin Bank (with a presence in Vietnam through its Ho Chi Minh City branch), KB Securities, KB Insurance, KB Card, and KB Capital.
The group wields a solid capital prowess and enjoys strong brand loyalty. Aspiring towards becoming Asia’s Top 10 and Global Top 50 under the vision of ‘Global financial group leading the Asian financial industry,’ KB Financial Group has expanded its network to 13 countries across Asia, Europe, Oceania, and North America through its subsidiaries, including KB Bank, KB Securities, KB Fund Manager, and KB Insurance.
