Strengthening Vietnam - Korea financial cooperation

Experts from Vietnamese and Korean financial institutions attended the seminar.

The seminar was held to enhance cooperation between Vietnam and Korea in the field of finance and banking in general.

The seminar also exchanged experiences in implementing Environment - Society - Governance (ESG) in building and perfecting institutions between state management agencies of the two countries and promoted cooperation activities and sharing experiences in implementing ESG.

At the same time, provide financial and technical support between Korean financial institutions and Vietnamese credit institutions (CIs) in implementing ESG risk management, towards green growth and sustainable growth.

In recent times, the banking industry has played an important role in promoting the greening of banking operations, promptly meeting the demand for capital to implement green, environmentally friendly projects; at the same time, raising awareness and enforcing regulations on environmental protection and corporate social responsibility. This once again affirms the determination of the banking industry in promoting green capital flows to serve the goal of sustainable development, while at the same time, orienting Vietnamese banking operations to increasingly approach international standards and practices on ESG practices.

ESG is currently a global concern and Korea is known as one of the leading countries in developing and implementing ESG strategies. Attending this seminar, on behalf of Shinhan Bank Korea, Ms. Lee Eun Ha, Director of ESG Planning Department, Mr. Kim Ji-hyun, Deputy Director of Risk Management Department, presented some "ESG Initiatives of Shinhan Bank Korea", with the hope of using the experience of implementing ESG strategies from Shinhan Bank Korea, thereby contributing to building and developing ideas for effective ESG activities of the Vietnamese banking industry in the future.

Speaking at the closing ceremony, Mr. Seo Seung Hyeon, Deputy General Director of Shinhan Bank of Korea, said: “In 2022, Shinhan Bank of Korea organized a seminar on digital finance with the Korean Financial Services Commission and the State Bank of Vietnam. This seminar continues to open up valuable opportunities for the parties to exchange and share Korea's experiences in implementing ESG in the banking system; effective ESG assessment models at Korean financial institutions, thereby, Shinhan Bank of Korea also has the opportunity to propose practical and feasible solutions for applying these standards to banking activities in Vietnam. At the same time, we will continue to strive to fulfill our role as a financial bridge between the two countries in the future, contributing to promoting Vietnam's socio-economic development”.

Source: https://baotainguyenmoitruong.vn/tang-cuong-hop-tac-tai-chinh-viet-nam-han-quoc-380654.html