Woori Bank, a major South Korean lender, has won approval from the Polish Financial Supervision Commission to set up a representative office in the eastern European country. The office will be located in Katowice. The full procedure is advised and coordinated by JP Weber.
Woori Bank should effectively start its operations in February 2017. The main objective of the bank representative office is promoting the services of Woori Bank in Poland and on East European markets among South Korean companies. The office in Poland is already the fourth location in Europe. Woori Bank has already opened the subsidiary in Russia and branch office in United Kingdom. Around July 2017 the Korean bank is going to set up a subsidiary in Germany.
JP Weber has provided comprehensive legal and tax advisory during the full procedure, including preparation phase, representation in the front of the Financial Supervision Commission as well as other public authorities, and immigration aspects.
This is already the next project of JP Weber related to establishment of Korean bank unit in Poland. Two years ago JP Weber supported Shinhan Bank in establishment of its representative office which is located in Wrocław.