Koreans flood VN finance firmsInstitutions from the Republic of Korea (RoK) have increased their investment in Viet Nam’s financial market significantly, expecting to gain from the market, thanks to the economic growth outlook. In January, RoK’s Shinhan Card Co Ltd, a subsidiary of the Shinhan Financial Group (Shinhan), announced the acquiring of 100 per cent stake of Prudential Vietnam Finance Company at a cost of US$151 million. Last year, Shinhan Bank Vietnam, a wholly owned unit of Shinhan Bank, also acquired the retail division of ANZ in Viet Nam. Besides the acquisition and capital contribution to Vietnamese financial institutions, Korean investors have also increased their presence in Viet Nam’s financial market through comprehensive co-operation with local financial firms. In mid-April, Korea Development Bank (KDB) marked its presence in Viet Nam through a comprehensive cooperation agreement with BIDV.— VNS