Largest Korean-American bank in California launches in Seoul
Business Bank of Center and Nara (BBCN), California’s largest Korean-American bank, will launch an office in Seoul, the bank said on Monday.
The institution will open an office by the end of November as it has been approved by the financial authority and will establish a sales branch in the next one or two years.
The bank held a reception at Hotel Shilla on Monday to celebrate the launch, which was attended by BBCN President Kevin Kim, Seoul City Mayor Park Won-soon and the mayor of Los Angeles, Eric Garcetti.
Its main business in Korea will be to support foreign exchange transactions of Korean companies that are operating in the United States, the bank said.