South Korea-based Woori Bank, a part of the Woori Financial Group, has launched its first branch in India, at Chennai, to provide assistance to Korean companies in the country in corporate banking and to serve local clients. The Chennai branch would be the head office of Woori Bank in India. The bank, which is the second largest commercial bank in South Korea with its focus on corporate banking, has received in-principle approval from the Reserve Bank of India in June, 2011, to set up its branch in India. It has already infused around $35 million in India, said a senior executive from Woori Bank.……..
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