Korea Development Bank announced on the 1st that it has commenced operations at its Frankfurt branch, marking its re-entry into the German financial market after pulling out 26 years ago due to the financial crisis.
The Frankfurt branch plans to directly procure euros locally to support the smooth business activities of Korean corporations in Europe and to secure global corporations as clients in Germany.
A bank official said, "We plan to expand high-quality foreign currency assets by initiating transactions with major corporations in Germany through collaboration with local large banks and state-owned banks and handling specialized loan products such as Schuldschein."
The Frankfurt branch also plans to take the lead in providing green finance support to domestic corporations operating in Germany and Europe, which is a leading market for green finance, and in promoting green investments within Europe.