Bank Korea Commercial Surya starts operation<\/p>\n
JAKARTA (JP): Bank Korea Commercial Surya (BKCS), which is 80
\npercent owned by the Commercial Bank of Korea and 20 percent by
\nthe publicly-listed Bank Surya, started operations yesterday on
\nthe 16th floor of the Jakarta Stock Exchange Building.<\/p>\n
The Commercial Bank's chairman and president, Jee Tae Chung,
\nsaid the operation of BKCS, which has a paid-up capital of Rp 100
\nbillion (US$43.6 million), will benefit the two countries
\nbusinesspeople.<\/p>\n
"Korea is now Indonesia's fourth biggest business partner,"
\nChung said after the opening ceremony of BKCS's Jakarta office.<\/p>\n
He said that as of last year, about 430 Korean businesspeople
\nhad established operations in Indonesia, with combined
\ninvestments of $5.5 billion.<\/p>\n
The opening ceremony of the BKCS office was led by South
\nKorean Ambassador Min Hyung Ki, who was accompanied by Jee Tae
\nChung and Bambang Sutrisno of Bank Surya.<\/p>\n
Chung noted that the two-way trade between Indonesia and Korea
\nreached $5.3 billion last year.<\/p>\n
"For sure, the bilateral trade and Korean investment in
\nIndonesia will continue to expand," Chung added.<\/p>\n
The 96-year-old Commercial Bank of Korea, with total assets of
\n$45.4 billion, as of June, is the 172th largest bank in the
\nworld.<\/p>\n
The bank operates 322 offices in South Korea, seven branch
\noffices in New York, London, Tokyo, Osaka and Singapore, three
\nrepresentative offices in New York, one in Frankfurt and one in
\nHong Kong.<\/p>\n
Bank Surya, which is controlled by tycoon Sudwikatmono, has
\ntotal assets of over Rp 1 trillion as of June, up 19.52 percent
\nfrom last year's total of Rp 861 billion.<\/p>\n
The bank floated four million common shares, 16 percent of its
\ntotal shares, to the public through the Jakarta and Surabaya
\nstock exchanges in 1989.<\/p>\n
Bank Surya, which currently operates 29 branch offices in
\nIndonesia and one on Cook Island, booked after-tax profits of Rp
\n7.04 billion last year and before-tax profit of Rp 9.85 billion
\nin the first semester of this year.<\/p>\n
The management of the new Indonesian-Korean joint-venture bank
\nis led by Kim Young Dae, assisted by Lee Yuong Ho, B. Budijanto
\nJahja and Choi Chang Young. (04)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bank-korea-commercial-surya-starts-operation-1447893297",
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