Mizuho Corporate Bank of Japan to Ally with Two South Korean Banks

Posted by Bill Belew on July 15th, 2010 in Japan | Comments Off

Japan and Korea are not the best of friends. Japan has long overshadowed Korea in business in many regards. Additionally there are scars from war time that just won’t heal.

Like the Sino-Japan relations and despite similar sentiments, the relationship does not prevent Japan and Korea from doing business together.

Mizuho Corporate Bank is planning on a capital participation in Korea’s Shinhan Financial of almost $100 million. This marks the first time two major financial institutions in Japan and Korea have made an attempt at a business relationship.

Mizuho is looking for more credible borrowers and Korea’s Shinhan Financial and Korean Development Bank are looking to lend money to Korean companies wanting to open up shop in Japan.

Each entity plans to introduce business opportunities to the other in their home country.

I wonder, however, how is it that two countries with such bad relations can still do business together.

What do you think?


 

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