BNI Aims For Business Potential Of 30 Billion US Dollars By Collaborating With South Korea's Largest Bank

Banking activities at BNI Seoul Branch, South Korea (Photo: Doc. BNI)

JAKARTA - PT Bank Negara Indonesia Tbk. (BNI) continues its international expansion by targeting the trade potential of Indonesia and South Korea (South Korea) of 30 billion US dollars through collaboration with KB Kookmin Bank.

Director of Treasury and International BNI Henry Panjaitan said that the company is an extension of the government in facilitating international trade transactions.

"BNI continues to improve its role as Indonesia's global bank with various strategic steps, one of which is through the collaboration with KB Kookmin Bank as the number one bank in South Korea," he said in an official statement on Thursday, June 2.

According to Henry, the synergy between the two financial institutions includes treasury transactions, syndicated loans, trade finance, funding in local currencies and exchanging information on customers who wish to trade or invest.

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

On the same occasion, the Indonesian Ambassador to South Korea Gandi Sulistiyanto welcomed the initiative made by BNI. The reason is, this cooperation can not only encourage the company's business, but also the Indonesian economy in the future.

"Indonesia's trade with South Korea has reached 17 billion dollars throughout 2021. This year we are optimistic that the trade value can increase significantly to 30 billion US dollars and this is a great opportunity," he said.

Moreover, continued Gandi, BNI already has an official representative office in South Korea which allows business activities to run more smoothly.

"Currently, the government and the DPR are also working on the ratification of the Indonesia-Korea Comprehensive Economic Partnership Agreement or IK-CEPA, which can be useful in attracting more investors and making business activities more optimal and efficient," he said.

Meanwhile, KB Kookmin Bank itself is the controlling business entity of Bank Bukopin (BBKP) with a current share ownership of 67 percent. The South Korean bank began to enter BBKP's body in 2018 when it annexed a small number of company shares.