South Korea’s Banks Prepare for Investment in North Korea

I understand these banks have to do due diligence in preparation to support any investments in North Korea, but this is all irrelevant unless the Trump administration drops sanctions:

South Korean banks, including Shinhan Financial Group and KB Financial Group — have set up task forces to conduct research on inter-Korean economic projects.

Earlier this month, Shinhan Financial launched a task force on North Korea.

The task force was manned by executives from the financial holding firm’s affiliates, including Shinhan Bank.

KB Financial has also set up a task force to review how it could take part in North Korea’s fiancial business operations if inter-Korean cooperation gains further momentum.

KEB Hana Bank will launch a team to draw up plans for financial support in North Korea when inter-Korean economic projects resume.

An official at KEB Hana Bank said the bank is interested in opening a branch in North Korea, but it will be possible “when political conditions are ripe.”  [Yonhap]

You can read more at the link.