Shinhan Bank Vietnam finds itself in an enviable position. The South Korean bank was one of the first to open a representative office in Vietnam, in 1993, following in the footsteps of one of its main corporate clients, Taekwang Group, which had the previous year relocated some of its shoe production from Busan to Ho Chi Minh City to supply Nike.
“That was a big decision,” says Shinhan head of risk management Ryu Je Eun. “That’s why we are here, but we didn’t expect the very strong development of Vietnam you see now. How could we foresee the current situation?”
