Credit Card Business
KB Kookmin Card signed a strategic agreement on joint business projects in the US with the participation of Yoon Woong-won, president of KB Kookmin Card and Kevin Kim, president of the Bank of Hope at the US-based bank headquarters in Los Angeles, USA.
The Bank of Hope is the largest Korean bank in the United States, which was created out of the merger of BBCN and Wilshire Bank, which were the largest and second largest Korean bank, respectively, in the US in 2016. The Bank of Hope became the first Asian bank to receive a card issuance license.
Through this alliance, the two banks will cooperate to pursue various joint projects such as establishing a joint venture for the joint investment and business, reorganizing and revitalizing the Bank of Hope’s credit card business, moving ahead with the finance business utilizing local sales networks and infrastructure and discovering big data-based business models.
"By combining KB Kookmin Card’s card business capabilities with the US local partners’ sales infrastructure and know-how, we will be able to vitalize our card business in the US and seek opportunities in various markets," a KB Kookmin Card official said.