The RoK’s Booyoung Lao Bank was officially opened in Vientiane Capital, on 23 September.
To mark the inauguration, more than 100 customers opened deposit accounts with the bank. The President of the Booyoung Co., Ltd, Mr Lee Joong Keun, confirmed that our bank would offer the best service to customers. He also said that our company would further support the construction of schools and supply blackboards and electronic pianos for Lao children nationwide.
President of the Booyoung Lao Bank, Mr. Im Jae Hyun, said that the main goal of the bank was to provide loans for local customers who would like to build and buy new houses.
He added that the company planned to make a joint venture with the Lao Government to build apartments with an accommodation capacity of 200,000 people for sale and rent for low-income people.
So far, the Booyoung Company has invested in the construction of the SEA Games golf course and given financial support to the education development.
The inaugural ceremony was attended by Standing Deputy Prime Minister Somsavat Lengsavad, the Governor of Bank of the Lao PDR, Mr Phouphet Khamphounvong, and the Ambassador of Republic of Korea to Laos, Mr Park Jae-Hyun. The bank is located in Phonsay village, Saysettha district, Vientiane Capital.
The bank is an investment of the Korean Booyoung Company with a total capital of 100 billion kip./.