On the morning of October 13, 2026, in Hanoi, Dr. Dao Minh Tu, Vice Chairman and Secretary General of VNBA, received a KFB delegation led by Mr. Cho Yong-Byong, Chairman and President of KFB. The meeting was attended by representatives of VNBA’s Standing Office, KFB representatives, and senior executives of Shinhan Bank Vietnam.
The meeting marked a further step in the longstanding relationship between the two associations and explored new avenues for cooperation amid the continued development of the Comprehensive Strategic Partnership between Vietnam and the Republic of Korea, which has created further opportunities to strengthen financial and banking ties.
Dr. Dao Minh Tu, VNBA Vice Chairman cum Secretary General
Consolidating the foundation for cooperation and leveraging each Association’s strengths
In his remarks, Dr. Dao Minh Tu warmly welcomed the KFB delegation and expressed his appreciation for KFB’s continued support and constructive cooperation with VNBA over the years.
He noted that the two associations had maintained their relationship through information sharing, reciprocal visits, professional exchanges and mutual support. These activities have provided an important foundation for strengthening the partnership, expanding professional cooperation programmes and enhancing connectivity between member banks in the two countries.
Dr. Tu also acknowledged KFB’s practical support for VNBA’s institutional development, including financial assistance provided in 2018 to improve the facilities supporting the Association’s Standing Office.
Assessing the prospects for future cooperation, Dr. Tu observed that economic relations between Vietnam and the Republic of Korea had continued to develop positively across trade, investment and financial services. The presence of Korean banks in Vietnam has helped strengthen economic connectivity and meet the financial needs of businesses and individuals in both countries.
He emphasized that Korea’s experience in financial technology (FinTech), risk management, non-performing loan resolution, deposit insurance and banking modernization offered valuable lessons for Vietnam. In particular, digital transformation, big data, artificial intelligence (AI), digital finance and digital lending present significant opportunities for deeper professional exchanges, helping strengthen the operational and governance capabilities of credit institutions.
Mr. Cho Yong-Byong, Chairman and President of KFB
For his part, Mr. Cho Yong-Byong thanked VNBA for its warm and thoughtful hospitality and expressed his support for the proposed cooperation priorities. Drawing on his professional experience in Vietnam since 2009, when he held positions at Shinhan Bank, he recalled numerous opportunities to engage with Vietnamese banks and promote bilateral cooperation. He also spoke highly of the support provided by the State Bank of Vietnam (SBV) for the operations of foreign banks in the Vietnamese market.
According to Mr. Cho, the Comprehensive Strategic Partnership between Vietnam and the Republic of Korea provides a favourable foundation for expanding financial and banking cooperation in conjunction with broader economic ties. Considerable potential remains for both countries to share expertise, strengthen institutional connectivity and develop practical cooperation initiatives that respond to the evolving needs of their respective banking sectors.
Notably, the KFB Chairman affirmed that Vietnam was among the Asian partners with which KFB was most keen to develop particularly close, extensive and substantive cooperation.
Towards a new MOU with clear priorities and an implementation roadmap
Building on the achievements of their existing partnership, Dr. Dao Minh Tu proposed that the two associations review previous cooperation activities, formulate a new programme of work and aim to sign a new MoU in the Republic of Korea in early 2027.
The proposed MoU is intended not only to establish a framework for cooperation between the two associations, but also to facilitate stronger ties among member banks, expand business opportunities and support banking activities in both markets. VNBA plans to take the initiative in preparing a draft MoU, identifying priority areas and proposing a concrete implementation roadmap for discussion and refinement by both parties.
Proposed areas of cooperation include professional training and knowledge sharing; the exchange of information and reports on economic developments in Vietnam, the Republic of Korea and the global economy; joint forums and thematic seminars; and the development of an annual cooperation programme to ensure that activities remain regular, focused and results-oriented.
Digital transformation, data infrastructure and data centres, and the application of big data and AI in banking were highlighted as priority areas. Cooperation programmes should respond to the practical needs of commercial banks and address specific operational and governance challenges through specialised training, in-depth seminars and the exchange of implementation experience.
VNBA also expressed its expectation that Korean banks would continue to serve as a bridge for cooperation in credit and financial services and for supporting businesses in both countries. Such cooperation could create new business opportunities, improve operational efficiency and contribute to broader economic development.
Welcoming VNBA’s proposals, Mr. Cho Yong-Byong said KFB would review previous agreements and cooperation activities with a view to jointly identifying priority areas. KFB also expressed its readiness to coordinate preparations for an exchange and engagement programme in the Republic of Korea in early 2027.
A key advantage highlighted by the KFB Chairman was the Federation’s network of relationships with approximately 40 institutions and organisations in Korea operating in finance, technology and credit-related fields. KFB stands ready to facilitate connections between VNBA and suitable partners, as well as to cooperate in organising forums, seminars and professional exchanges tailored to Vietnam’s needs.
This network provides a favourable basis for extending cooperation beyond exchanges between the two associations to encompass professional collaboration and stronger links among institutions across the financial and banking ecosystem.
Strengthening connectivity for more effective and substantive cooperation
The meeting also covered the role of Korean banks operating in Vietnam, including Shinhan Bank and Industrial Bank of Korea (IBK), in supporting investment flows, providing financing for small and medium-sized enterprises (SMEs), and developing digital banking models.
The discussions highlighted the potential for VNBA–KFB cooperation to evolve along multiple dimensions, combining association-level dialogue, professional knowledge sharing, member-bank connectivity and stronger collaboration among financial institutions in the two countries.
At the conclusion of the meeting, both sides agreed to continue consultations and coordinate the development of specific cooperation initiatives, while preparing for the signing of a new MoU in early 2027. Establishing clear priorities, designated coordination points and annual implementation plans is expected to help bring about a more substantive and results-oriented partnership.
Building on the Comprehensive Strategic Partnership between Vietnam and the Republic of Korea, stronger cooperation between VNBA and KFB will not only reinforce ties between the two countries’ banking communities, but also create opportunities to advance technological innovation, strengthen governance capabilities and expand financial and banking cooperation in support of businesses and economic development in both countries.
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