Chohung Bank, the second largest bank in South Korea, has set up operations on Thursday in Tianjin Binhai New Area, becoming the second foreign bank to invest there.

Tianjin Binhai New Area provides limitless business opportunities for financial institutions.  There are a large number of Korean enterprises investing in the area, including Sumsung, LG and other multinational companies. 

Chohung Bank set up offices here to better serve such companies.  Chohung Bank has a history of over 100 years in Korea, and its Tianjin Binhai sub-branch has a registered capital of 10 million yuan, serving primarily the enterprises in Tianjin Binhai New Area, and focusing on wholesale and intermediary business.  In addition, it also provides savings, exchange, remittance and other services to individual foreigners working here.

(China.org.cn December 9, 2005)