Mumbai: State Bank of India on Friday said it has entered into a partnership with the Industrial Bank of Korea to help the Korean small businesses doing business here in the country. The agreement will help about 480 Korean small and medium enterprises operating in the country, SBI said in a statement issued in Mumbai.
In the absence of a branch of the Korean bank in the country, "this agreement will assist Korean companies to meet their financial requirements", it said. Additionally, it would also help SBI in channelizing business for its upcoming representative office in Seoul, it said.
The agreement was signed by SBI Managing Director of International Banking Hemant Contractor, and Jun-Hee Cho, Chairman and Chief Executive of Industrial Bank of Korea.