Korean bank saves money on its inauguration event to contribute for Clean India Mission – Swachh Bharat Abhiyan
NEW DELHI: In an exemplary move, KEB Hana Bank – a South Korean multinational financial group on Friday announced to contribute US$ 10,000 to Indian Government’s key program Swachh Bharat Abhiyan, the Clean India Mission.
The bank saved this money by organizing a modest ceremony of its second branch opening in India at the customer lounge of its Gurgaon branch instead of doing it at any swanky 5/7 star hotel with the lavish spread of food and beverages.
“This event is being held on a modest scale at the customer lounge. Using costs saved from having such a small ceremony, we will donate about Rs. Seven lakh ($10,000) to the Indian Government’s key initiative – Swachh Bharat Abhiyan, the Clean India Mission,” said Kwon Ho-sang, Head of Business Division, Europe Middle East Asia, KEB Hana Bank, Korea.
It is widely known that Swachh Bharat Abhiyan, also known as Clean India Mission is one of the projects very close to Indian PM Narendra Modi.
This Trusted Premier Global Financial Group Korean bank opened its second Indian branch in Gurugram on Friday with first being in Chennai which was opened in 2015. The bank has plans to expand to other metros like Mumbai and Bangaluru soon.
However, the top representatives of Korean organizations and the corporate world, and the Korean Ambassador to India were present on this occasion.
Shin Bong-kil, Ambassador of Republic of Korea in India; Moon Young Kim, President, Southwest Asia, Korea Trade-Investment Promotion Agency (KOTRA); Hee-chul Jung, Chief Representative (Director), Korea International Trade Association (KITA), Y K Lee, Chairman, Korean Small & Medium Enterprises Association in India (KSOMA); Euy Don Park, President, Korean Association in India; Sung Chang Hong, Managing Director, Nong Hyup Bank were among those present on the occasion.
“In the midst of a global economic slowdown, the Indian economy is still showing an upward trend on the back of economic development policy and IT/manufacturing growth. Global investors’ growing interest in India is making its economic prospects even rosier. I hope our new branch can also make great contributions to India-Korea bilateral cooperation and the development of the Indian financial industry,” said Kwon Ho-sang in his address.
KEB Hana Bank also signed a memorandum of understanding (MoU) with the ICICI Bank on Friday.
Kwon Ho-sang signed the MoU on behalf of KEB Hana Bank and Ranju Sigita, Head – Financial Institutions International Banking Group, ICICI Bank signed it for ICICI Bank.
Yang Seung Jin, General Manager, Gurgaon branch of KEB Hana Bank said that the bank would be dealing in Corporate banking, investment banking and foreign exchange (forex) from the Gurgaon office.
Hansoo Chung, Chief Operating Officer, Chennai branch of KEB Hana Bank was also present on this occasion.
There were senior officers from various Korean companies such as Dong-Min Choi, Director (CFO), Finance & Management Support Division, POSCO India were also present.
According to Kwon Ho-sang, KEB Hana Bank has been recognized as a top Korean bank in global operations with 185 overseas offices in 24 countries.
“It has been 11 years since we first entered the Indian market in 2008. We started with a representative office in New Delhi and later in 2015 established the Chennai branch to expand business in earnest. This branch bow actively serves not only India based Korean companies but also esteemed local companies. Today marks another milestone for the bank three years after the application for a license, we have finally opened a new branch in Gurugram,” added Kwon Ho-sang.
