Woori Bank signs memo to work with Vietnam's Viettel Group

SEOUL, April 23 (UPI) -- South Korea's Woori Bank said Thursday it signed a memorandum of understanding with Viettel Global, an affiliate of Vietnam's largest mobile carrier, Viettel Group.

Under the agreement, the Seoul-based lender said it would expand collaboration with Viettel Global, which focuses on the global telecom business and digital investment in more than 10 countries.

As part of the initiative, Woori Bank CEO Jung Jin-wan flew to Ho Chi Minh City as a member of an economic delegation accompanying President Lee Jae Myung during his state visit to Vietnam.

Woori Bank has already established ties with Viettel Global through financial transactions worth tens of millions of dollars.

The two firms have now agreed to deepen collaboration in Viettel Global's overseas operations by sharing information and expertise, while providing financial support for expansion into new markets.

"In Vietnam, our cooperation with Viettel, which plays a key role in the country's core infrastructure, will serve as a new growth driver for our global business," Jung said in a statement.

"We will keep providing a broad and more advanced financial experience for both local Vietnamese customers and Korean companies through innovative financial services," he said.

Woori Bank is not publicly listed. The share price of its parent company, Woori Financial Group, dipped 0.14% on the Seoul bourse Thursday.

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This story was originally published April 23, 2026 at 6:05 AM.