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Sanoat Qurilish Bank expands cooperation with Korean banking and financial institutions

Tashkent hosted Uzbekistan – South Korea business forum on April 17, within the framework of the state visit of the President of the Republic of Korea Moon Jae-in to Uzbekistan.

The business forum was attended by representatives of Sanoat Qurilish Bank (Uzbekistan Industrial and Construction Bank) along with heads of ministries and agencies, companies and concerns of the two countries responsible for foreign economic relations, investments, trade, banking, financial and industrial sectors.

JSCB Sanoat Qurilish Bank actively cooperates with Korea’s banking and financial institutions, such as Shinhan Bank, KEB Hana Bank and Korea Eximbank, as well as has correspondent relations with the Industrial Bank of Korea, KEB Hana Bank, Kookmin Bank, Woori Bank, Citibank Korea and Korea Exchange Bank.

JSCB Sanoat Qurilish Bank and Shinhan Bank signed the Basic Trade Finance Agreement for 60 million US dollars, providing for financing projects involving the import of technological equipment and services from South Korea and other countries.

JSCB Sanoat Qurilish Bank and KEB Hana Bank signed an agreement providing access for labor migrants from the Republic of Uzbekistan to KEB Hana Bank’s products such as the “Easy-one Banking Remittance” (transfers from one account to another via SWIFT) with a decrease in the cost of fees for transfers made through ATMs (Easy-one service) and mobile applications (KEB Hana mobile banking). A test transaction for a money transfer from Korea to Uzbekistan has been already successfully implemented. Today, the parties carry out marketing activities to promote this product among customers.

Projects are also actively funded by the credit line of Korea Eximbank.

Information Service of the Bank

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