China Banking Regulatory Commission (CBRC), China's banking regulator, gave nod to the opening of Kookmin Bank (China) Limited Shanghai Branch on Tuesday.
KIM,DO SOO is appointed as the president of the branch.
Working capital of the bank is freely convertible currency equivalent to 100 million yuan.
Previously, Kookmin Bank has established four branches in four cities of China, including Beijing, Harbin, Suzhou and Guangzhou.
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