11page

11 SMEs seeking to enter global markets can get support from these programs, ofered by any of the 937 Shinhan bank’s branches in the nation. Te program covers municipal law, international law, local information, trafc and transportation, translation and interpre- tation, and other relevant services. Te program will allow companies do safe, efcient business by minimizing trial-and-er- ror risk. Currently, we are ofering this program main- ly in Vietnam, China, Cambodia and Ka- zakhstan, but will expand to more countries in keeping with Shinhan’s global expansion goals. How is Shinhan supporting FDI (Foreign Direct Investment) in Korea and do you have any recent examples of this? FDI support used to take place in the Foreign Exchange division. In August 2011, a dedicat- ed division for FDI (called the Foreign Cus- tomer Department) was created to extend service beyond foreign investment to com- prehensive fnancial support and consulting. It promoted convenience in several ways, like, for example, speeding up procedures for fling FDI applications so the work could be completed on the same day. Te division also streamlined the process for issuing an immediate corporate card, preventing incon- venience in running a new business. Other support included loans for facilities and oper- ation, as well as consultations on FX (foreign exchange), including taxes, laws and regula- tions regarding foreign exchange. A good, recent example of our FDI support involved an Israel-based global nuclear com- pany ’ s investment in Korea from this past March. Shinhan served as an “Escrow Bank,” mediating the two parties and playing a cen- tral role in promptly reaching an agreement amid complicated conditions in Korea in 2012. In addition, despite a time crunch, FDI work was accomplished with a one-stop fling process done in a day, despite an extremely complicated investment structure and foreign exchange regulations. It took three business days in total, from the remittance of invest- ment money to launching the business. Te Israeli company was extremely impressed with Shinhan’s efcient help. Do you hav e any message to share with our foreign readers? With prolonged economic stagnation, busi- nesses face many challenges. I would like to express my full respect for CEOs and execu- tives who are not only working hard for their own economies, but also for global industrial synergy. Shinhan is committed to reaching out to our customers, just as we have done throughout our history, with this useful and valuable product: the frst English-language magazine published by a Korean bank.