On December 30, 2024, in Hanoi, the National Credit Information Center of Vietnam (CIC) signed a Memorandum of Understanding with JB Financial Group and NICE Information Services Company (Korea). The event aims to establish a cooperative relationship in cross-border credit information exchange between the two countries, focusing on Vietnamese people in Korea and Koreans in Vietnam.
The agreement aims to build a cross-border credit information sharing system, facilitating easier access to finance for foreign citizens. Accordingly, Vietnamese citizens residing in Korea can use their domestic credit records to assess their credit more accurately when accessing financial services in Korea. Conversely, credit information accumulated in Korea will be maintained and used when they return to Vietnam, ensuring a continuous credit history.
Attending the signing ceremony were Mr. Cao Van Binh - Chairman of the Board of Directors of CIC, Mr. Park Jong Choon - CEO of JB Financial Group and Mr. Kim Jong Yoon - General Director of NICE. The parties committed to strengthening cooperation to realize the goal of financial connection between the two countries.
Speaking at the event, Mr. Park Jong Choon said: “JB Financial Group is committed to solving the financial challenges faced by foreign residents in Korea, while expanding cooperation with international credit institutions. This agreement is the first step for Vietnamese citizens to access financial services in Korea and vice versa seamlessly."
Mr. Cao Van Binh emphasized: “The cooperation between CIC, JB, and NICE not only expands access to financial products and services for Vietnamese and Korean citizens but also promotes bilateral economic and financial cooperation. This is also the strategic goal of the State Bank of Vietnam since the APEC Finance Ministers' Meeting 2017 with the theme of ‘Cross-border credit information exchange’”.
This agreement marks an important step forward in the comprehensive financial strategy, contributing to strengthening economic relations between Vietnam and Korea.
