As part of its working visit to the Republic of Korea, the high-level delegation of the Vietnam Bank for Agriculture and Rural Development (Agribank), led by General Director Pham Toan Vuong, held an important meeting with Shinhan Bank – one of Korea’s leading financial institutions.

At Shinhan Bank’s headquarters in Seoul, the leadership of the two banks engaged in comprehensive discussions on the current state of cooperation and future development directions. The partnership between Agribank and Shinhan Bank, which began in 2000 with an RMA relationship, has since expanded and been maintained through Shinhan Bank’s network of eight international branches. The two parties have effectively implemented numerous initiatives across credit, interbank transactions, international payments, and trade finance, with particular success in the UPAS L/C product via Shinhan Bank’s London branch.

Looking ahead, Agribank and Shinhan Bank agreed to further enhance the sharing of expertise in technology adoption and artificial intelligence (AI), while accelerating digital transformation in the development of banking products and services to meet increasingly diverse customer needs and advance financial inclusion. At the same time, Agribank expressed its intention to learn from Shinhan Bank’s experience in implementing ESG practices – ranging from risk management, the integration of ESG criteria into risk governance, to the development of green credit and appraisal of environmentally friendly projects – thereby progressively realizing its sustainable development objectives.

Speaking at the meeting, Agribank General Director Pham Toan Vuong emphasized: “This visit not only strengthens our long-standing partnership but also opens up opportunities for Agribank to access advanced models and practices from Shinhan Bank. Through this, we aim to drive digital transformation, promote green finance, and contribute to Vietnam’s commitment to achieving Net Zero by 2050.”

Immediately following the meeting, Shinhan Bank organized a thematic workshop for the Agribank delegation to share practical experience in its areas of strength. The workshop focused on four key themes: the application of technology and AI in retail and corporate banking; a comprehensive digital transformation strategy anchored on the SOL digital banking platform; ESG and green finance through the design of green credit products, green project appraisal processes, and environmental–social risk management; and international cooperation models supporting Korean enterprises investing in Vietnam, particularly in high-tech agriculture and low-emission projects. These insights provided Agribank’s delegation with a holistic view of modern banking trends, while offering valuable practical lessons applicable in Vietnam’s context.

The activities at Shinhan Bank concluded in an open and cordial atmosphere, reflecting the shared determination of both banks to elevate their bilateral cooperation to new heights. Leveraging their respective strengths and experience, Agribank and Shinhan Bank expect to jointly foster innovation and sustainable growth, making a positive contribution to the advancement of the financial–banking systems of both Vietnam and Korea, for the benefit of customers and the prosperity of the two nations.

Kylie Nguyen