EBL launches Korea Business Desk to facilitate bilateral trade
To facilitate cross-border business transactions between Republic of Korea and Bangladesh and to provide required banking services, Eastern Bank PLC. (EBL), a leading private sector financial institution, has opened a dedicated Korea Business Desk. The desk at EBL head office at Gulshan area will provide one-stop banking services, designed for Korean companies, investors and individual customers.
The Korea Business Desk was formally inaugurated by Park Young-sik, Ambassador of Republic of Korea in Bangladesh during a seminar titled "Investment services by using O S S (One Stop Service)" co-sponsored by EBL and held at Sheraton Dhaka hotel today, reads a press release.
Among others, Mohsina Yasmin, Executive Member, International and Local Investment Promotion, Bangladesh investment Development Authority (BIDA) Samsoo Kim, Head of Korea Trade-investment Promotion Agency (KOTRA); Shahab Uddin Khan, President, Korea-Bangladesh Chamber of Commerce and Industry (KBCCI); Yong Oh Yu, President, Korean Community; Ahmed Shaheen, Additional Managing Director, EBL were present on the occasion.
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EBL also launched co-brand credit cards with the Korea-Bangladesh Chamber of Commerce and Industry at the same event. The exclusive Visa Platinum and Signature credit cards are specially designed for KBCCI members. The cards are carefully tailored to meet the unique needs of KBCCI members, providing them with dedicated benefits and personalized offers to meet the expectations of the cardholders, seamlessly fitting into their everyday lives.
Republic of Korea, popularly known as South Korea is Bangladesh's 20th largest export partner. Bangladesh-South Korea bilateral trade crossed $3 billion mark for the first time in 2022, which is 38.71% up from the previous year's $2.188 billion.
Major South Korean export items to Bangladesh are diesel, machinery, petrochemical products, steel and pesticides etc. Bangladesh's export to Korea reached a record high of $678 million in 2022 with 22.9% year-on-year growth. South Korea's investment in Bangladesh is the fifth largest in terms of accumulated amount.
