Strengthening Business Expansion In South Korea, BNI Synergizes With KB Kookmin Bank

The signing of the agreement between BNI and KB Kookmin Bank (Photo: Doc. BNI)

JAKARTA - PT Bank Negara Indonesia Tbk. (BNI) is said to have just signed a partnership with KB Kookmin Bank in the context of expanding its business in South Korea.

Director of Treasury and International BNI Henry Panjaitan said that this step is a form of expansion strategy in increasing treasury transactions, syndicated loans, trade finance, funding in local currencies and exchanging information for customers who want to trade or invest in the countries of origin of the two banks.

"BNI continues to improve its role as Indonesia's global bank with one of its strategic steps, namely by collaborating with KB Kookmin Bank as the number one bank in South Korea," he said in an official statement quoted Tuesday, May 31.

According to Henry, in addition to benefiting from business transactions between the two banks, through this cooperation the company as a development agent can facilitate the entry of South Korean state investment into Indonesia, which has increased rapidly in recent years.

"In the future, we hope that the synergies that are built can increase closer relations while producing business transactions that are mutually beneficial to both parties," he said.

Furthermore, Henry explained that later it is planned to exchange customer information, where BNI as a global bank in Indonesia can facilitate Indonesian exporters to expand the market in South Korea.

"We want to connect customers to South Korean importers who are customers of KB Kookmin Bank," he said.

Meanwhile, the signing was carried out by the Director of Treasury and International BNI Henry Panjaitan with the Head of the Global Business Group of KB Kookmin Bank, at Graha BNI, Jakarta.

For information, KB Kookmin Bank's entry into the Indonesian market was started earlier in 2018 by acquiring Bank Bukopin's shares. To date, the financial services institution has increased its ownership in Bank Bukopin to 67 percent.