Despite strained inter-Korean relations, South Korean banks continue to hold licenses, thereby allowing them, one day, to establish branches in North Korea, if a thawing of ties occurs at some point.
Woori Bank announced on Wednesday that it aims to increase the net profit from its overseas branches to account for 25 percent of its total profits by 2030. To achieve this goal, it plans to inject $500 million in three prominent Southeast Asian corporations that are showing growth potential, and extend its presence into new areas, including Poland and the Middle East.
Automaker Honda remained the biggest foreign taxpayer in Vietnam in 2022, according to the General Department of Taxation’s latest list of the top 1,000 contributors of corporate income tax (CIT).
While financial authorities are advocating for governance reforms and voicing concerns about the prolonged tenure of CEOs in the financial sector, foreign banks seem to be sidestepping these pressures.