Busan Bank's Ho Chi Minh branch signs MOU to support local firms entering Vietnam, returning home

BNK Busan Bank announced Thursday that its Ho Chi Minh branch signed a three-way MOU in Vietnam on Wednesday with the Busan city Vietnam trade office and law firm KNL Law to support Busan-based companies entering the Vietnamese market and returning to South Korea.

The agreement is designed to provide professional financial, administrative and legal support to small and midsize companies in Busan pursuing expansion into Vietnam or considering a return home. It aims in particular to ease the difficulties firms face during overseas expansion — including local entity establishment, licensing and permits, and financing — while also helping companies that wish to return achieve a stable resettlement in Busan.

Under the MOU, the Ho Chi Minh branch will handle financial services including local banking and foreign-exchange consultations, account opening and financing feasibility reviews. The Busan city trade office will identify eligible companies, provide local market intelligence, and coordinate policy, administrative and institutional support. KNL Law will offer legal counsel on establishing local entities, obtaining investment registration certificates and business registration certificates, and navigating licensing, permits and contracts.

The three parties also agreed to extend consultations and support to companies considering a return to South Korea, assisting them through the liquidation of their Vietnamese operations and domestic resettlement.