Latest news with #Korea–VietnamBusinessForum
Korea Herald
5 days ago
- Business
- Korea Herald
Hana Bank, Vietnam's BIDV join forces on cross-border QR payment ecosystem
Leading Korean lender Hana Bank signed a memorandum of understanding with Vietnam's largest state-owned commercial bank to expand cross-border QR code payment and settlement services, in the latest move to strengthen digital finance ties between the two countries. The agreement was signed Tuesday during the Korea–Vietnam Business Forum in Seoul, an event attended by government officials and more than 500 business leaders from both nations. Executives of the Joint Stock Commercial Bank for Investment and Development of Vietnam, or BIDV, were part of an economic delegation accompanying the General Secretary of the Communist Party of Vietnam, To Lam, on his official visit to Korea. Under the deal, the two lenders will collaborate to enable individuals and companies in both countries to use QR-based payment systems and related global settlement services. The aim is to make transactions more convenient, secure and cost-effective, especially for small merchants, tourists and cross-border traders, Hana said in a statement. 'This partnership combines Korea's advanced digital finance technology with Vietnam's extensive payment network,' Hana Bank CEO Lee Ho-seong said. 'We will work to establish a cross-border QR payment ecosystem that contributes to economic growth in both countries.' Cross-border payment services have become a focus for Korean financial institutions, which are seeking to serve the growing number of Korean tourists, expatriates and businesses operating in Vietnam. Hana and BIDV have an existing strategic relationship dating back to 2019, when the Korean lender purchased a 15 percent stake in the Vietnamese bank. Through its fintech arm, GLN International, Hana has rolled out several joint services with BIDV. In 2022, the two banks launched a QR-code-based cash withdrawal feature that lets users of Hana's 'Hana One Q' mobile app withdraw money from about 2,100 BIDV ATMs in Vietnam without using a physical card.
Korea Herald
6 days ago
- Business
- Korea Herald
KT teams up with Viettel to target Southeast Asia's AI market
KT, one of Korea's leading telecom carriers, said Tuesday it has signed a partnership agreement with Viettel Group, Vietnam's largest telecom operator, to expand collaboration in artificial intelligence and AI transformation, or AX, in the Southeast Asian region. The deal pushes forward a joint project from the two companies' May agreement, taking it into the implementation stage. KT CEO Kim Young-shub and Viettel Chairman and CEO Tao Duc Thang attended a signing ceremony held at KT's Gwanghwamun building in Seoul on Monday. Under the deal, KT and Viettel will cooperate in four core areas — development of a Vietnamese AI language model, creation of industry-specific AX platforms, expansion of the Southeast Asian AX ecosystem through global partnerships and cultivation of AI talent via the planned Global AX Innovation Center. 'This collaboration goes beyond technology to help secure Vietnam's future growth engines, as KT works with Viettel to open a new AI era together,' Kim said. The partnership also includes joint research on AI-based cybersecurity solutions to combat voice phishing and deepfake crimes, with data and technology sharing between the two nations. At the Korea–Vietnam Business Forum, the two firms presented their cooperation as a model for joint growth with companies with AX capabilities.
