Hana Bank partners with development bank to boost presence in Vietnam

SEOUL, April 27 (UPI) -- South Korea's Hana Bank said it has partnered with the Bank for Investment and Development of Vietnam to strengthen its presence there.

Under the agreement, signed during President Lee Jae Myung's state visit to Vietnam, countries agreed to jointly pursue investment opportunities in such areas as infrastructure, green projects and energy.

Hana Bank said it expects the contract would help Korean companies expand into Vietnam. The state-run Bank for Investment and Development is Vietnam's largest bank in terms of assets.

Separately, Hana Bank's affiliate GLN International officially launched a cross-border QR payment service Thursday based on an alliance with the development bankand the National Payment Corp. of Vietnam.

The service enables Korean travelers in Vietnam to pay at merchants in such cities as Ho Chi Minh City, Da Nang and Phu Quoc through Korean mobile apps without having to exchange currency or download local payment apps.

Hana Bank said that the app was designed to run on Vietnam's national QR payment network with approval from the State Bank of Vietnam. Hana Bank is the only Korean financial firmt serving as a settlement bank in the program.

"This agreement and service launch will create tangible value by combining Vietnam's growth potential with Hana Bank's global financial expertise," Hana Bank CEO Lee Ho-sung said in a statement.

"Through a strategy that encompasses both infrastructure finance and digital payments, we will provide convenient and stable financial services while continuing to enhance our global payment network," he said.

Hana Bank is not publicly listed. The share price of its holding company, Hana Financial Group, rose 1.05% on the Seoul bourse Monday.

Copyright 2026 UPI News Corporation. All Rights Reserved.

This story was originally published April 27, 2026 at 7:07 AM.