Trade ties to support Korea’s RMB hub ambitions, says StanChart
Sean Gladwell - Fotolia
Activity is starting to pick up in the newly designated offshore renminbi hub of South Korea with Woori Bank and ICBC (Asia) privately placing two bonds totalling Rmb380m ($62m). While the country is still waiting for a domestically issued public RMB bond, Kim DanJoo, head of local product management at Standard Chartered Bank Korea, is confident the country has what it takes to become a leading renminbi hub.
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