New Delhi: State Bank of India has signed a memorandum of understanding with Industrial Bank of Korea to support the business activities of Korean small and medium enterprises entering or already operating in India.
The MoU would assist the Korean companies in meeting their financial requirements from SBI.
Currently, there are 480 Korean SMEs operating in India. Industrial Bank of Korea currently does not have any branch presence in India.
SBI is also setting up a representative office in Seoul. The MoU will help SBI get more Korean business not only for domestic branches, but also in that country.
The MoU was signed last week by Hemant Contractor, Managing Director & Group Executive on behalf of State Bank of India and Jun-Hee Cho, Chairman and Chief Executive Officer of Industrial Bank of Korea.
"Believer - Humanitarian - Habit of Success" Sukumar Balakrishnan is the Founder of JB GROUP, a 500 Crore National Organization with over 150 Direct & 1200 indirect professionals operating from 5 major cities in India. Jayalakshmi Balakrishnan Group, a multi-faceted group venturing into, E- Commerce and Import-Export (INNOKAIZ), Retail and Wholesale (JB MART), Food and Beverages (KRISHNA FOODS ), Real Estate (Constructions on sites, Interior scaping, Facility Management)
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