Belarusbank, Korea’s Goodmorning Shinhan Securities sign memorandum of cooperation

Belarusbank and Korea’s Goodmorning Shinhan Securities signed a memorandum of cooperation in Minsk on March 25. The chairperson of the board of directors of Belarusbank, Nadezhda Yermakova, told journalists that the main goal of the cooperation between these financial institutions is to provide all the necessary conditions for successful trade relations between Belarus and Korea’s Goodmorning Shinhan Securities, which will represent all Belarusian projects in Korea, and Belarusbank – all Korean projects in Belarus. Goodmorning Shinhan Securities President and CEO Dong G. Lee underlined that the relations between Belarus and Korea are not developed to the full extent, though the two countries have much in common, for example, high intellectual potential. According to him, it would be prudent to start developing economic ties between the two countries on the level of banks. Belarus has submitted to the Korean side more than 10 projects on cooperation in various spheres. At present, Korean businessmen are studying the cooperation possibilities. Mr Dong G. Lee noted that his company is interested in investing in such projects, but he did not specify the amount of the coming financial investment. “We are not familiar with the Belarusian market yet, we lack the necessary information about Belarus”, he noted. First of all, the Korean side needs to study the traditions, organizational and other procedures of doing business in Belarus. From now on the representatives of Goodmorning Shinhan Securities will be the main information source for Korean business about the achievements in Belarusian economy. “I will do my best to enable Korean business circles to learn more about the Belarusian market”, Mr Dong G. Lee said.