Korea Citibank said on the 13th that it opened the "Citi Korea Desk" in Chicago, the United States. With this, it plans to expand local financial support for Korean corporations entering the North American market.
Korea Citibank established its first Korea Desk in New York, the United States, in 1993. Since then, it has built Korea Desks in major financial hubs around the world, including Europe, the Middle East, and Asia, supporting the overseas expansion of Korean corporations.
With the opening of the Chicago Korea Desk, alongside the existing New York Korea Desk, a local financial support system has been established to support the North American operations of Korean corporations.
The Korea Desk operates in a structure where Citi's local staff collaborate with Korea Citibank employees dedicated to Korean corporations. By understanding the financial policies and standards of the corporations' Korean headquarters and directly reviewing and supporting the cash flows and financial transaction structures of overseas subsidiaries, it helps reduce risks and enable more efficient management.
Currently, Citibank operates six Korea Desks for large corporate clients and nine for mid-sized corporate clients.
Kim Gyeong-ho, deputy president of the Corporate Banking Group at Korea Citibank, said, "With the opening of the Chicago Korea Desk, we will support Korean corporations that have entered the U.S. Midwest of the North American market so they can manage funds and financial transactions more stably even within the local financial environment."