Woori Finance ties up with China's Bank of Communications

South Korea's Woori Finance has signed a preliminary agreement for strategic partnership with China's Bank ofCommunications.

Woori has inked a memorandum of understanding for business tie-up with Bank ofCommunications, Woori Finance said in a statement.

Under the agreement, the two banks will exchange information and sell financial products through each other's sales channels.

The move came as the South Korean banking group is seeking to expand its global presence amid the saturated local markets, according to the statement.

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