Rsquare to help Shinhan Bank with property in Vietnam

Shinhan Bank Vietnam CEO Kang Gew-won, left, and Rsquare CEO Lee Johnwoo, pose for a photo after signing a memorandum of understanding on April 5. [RSQUARE]

Rsquare, a commercial property broker, said Wednesday it signed a memorandum of understanding with Shinhan Bank Vietnam on April 5.

Under the arrangement, Rsquare will find office space for Shinhan Bank’s clients in Vietnam, do interior work and find residences for staff utilizing its data on more than 10,000 properties in Vietnam.

“Rsquare will offer high-quality data and service for Shinhan Bank's clients,” said Lee Johnwoo, CEO of Rsquare in a release Wednesday.

“This partnership will also help other Korean companies expand into Vietnam.”

Rsquare, which started in 2014, expanded into Vietnam last year.

The startup has 114 billion won in investment from investors including SoftBank Ventures Asia and Z Venture Capital.

BY JIN EUN-SOO [jin.eunsoo@joongang.co.kr]