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Bank of Korea opens Shanghai office
By Hu Xiaocen |
March 13, 2012, Tuesday
|
Online Edition
Online Edition
SOUTH Korea's central bank opened a representative office in Shanghai yesterday, as the city gears up to become a global financial hub by 2020.
Bank of Korea, South Korea's central bank, was the first foreign central bank to open a representative office in China, the bank's Governor Choongsoo Kim said yesterday at the opening ceremony for the Shanghai office.
BOK now has three offices in Beijing, Shanghai and Hong Kong.
"South Korea is China's third biggest trading partner, while China is South Korea's biggest. Trading between the two countries reached US$245.6 billion last year," said Du Jinfu, deputy governor of China's central bank.
The yuan-won swap line between the two countries' central banks doubled from 180 billion yuan (US$28.5 billion) to 360 billion yuan last year, Du added.
Kangkuk Lee, deputy consul general of South Korea in Shanghai, also mentioned the flourishing bilateral trading relationship between the two countries.
"There are 95,000 Korean expatriates and 6,000 companies in the Yangtze River delta," he said.
Shanghai Deputy Mayor Tu Guangshao said that the municipal government will provide better financial services, a conducive environment and support in all aspects to foster foreign companies' development in the city.
Bank of Korea, South Korea's central bank, was the first foreign central bank to open a representative office in China, the bank's Governor Choongsoo Kim said yesterday at the opening ceremony for the Shanghai office.
BOK now has three offices in Beijing, Shanghai and Hong Kong.
"South Korea is China's third biggest trading partner, while China is South Korea's biggest. Trading between the two countries reached US$245.6 billion last year," said Du Jinfu, deputy governor of China's central bank.
The yuan-won swap line between the two countries' central banks doubled from 180 billion yuan (US$28.5 billion) to 360 billion yuan last year, Du added.
Kangkuk Lee, deputy consul general of South Korea in Shanghai, also mentioned the flourishing bilateral trading relationship between the two countries.
"There are 95,000 Korean expatriates and 6,000 companies in the Yangtze River delta," he said.
Shanghai Deputy Mayor Tu Guangshao said that the municipal government will provide better financial services, a conducive environment and support in all aspects to foster foreign companies' development in the city.
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