(Seoul=NSP News Agency) YEON SUN HAN Journalist = ShinHan Bank began its first trading on global custody services that keeps and manages Vietnam investment assets equivalent to KRW 50 billion after its authorization on Vietnam custody bank operation on last July.
Up to now, Funds and Pension funds have foreign custody banks have been asking custody services to foreign banks because there were no Korean banks that provide general services on custody, operations and settlement.
Unlike before, ShinHan Vietnam bank can provide global custody services directly by building system with the authorization to operate on local custody bank. Accordingly, the size of custody will go up to KRW 300 billion once current fund assets are transferred by the end of this year.
Up to now, Funds and Pension funds have foreign custody banks have been asking custody services to foreign banks because there were no Korean banks that provide general services on custody, operations and settlement.
Unlike before, ShinHan Vietnam bank can provide global custody services directly by building system with the authorization to operate on local custody bank. Accordingly, the size of custody will go up to KRW 300 billion once current fund assets are transferred by the end of this year.
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