November 20th 2012 – Mizuho Corporate Bank, Ltd. (MHCB; Yasuhiro Sato, President & CEO) signed a memorandum of understanding for business cooperation on November 19, 2012 with National Information & Credit Evaluation Information Service Co., Ltd. (NICE). This memorandum of understanding will enable MHCB customers who are searching for new business opportunities with Korean corporations or considering launching joint ventures in Korea to smoothly access financial and corporate information held by NICE through MHCB. This is the first time that NICE has entered an agreement of this nature with a foreign private financial institution.

NICE is a specialist credit rating agency that was established in the Republic of Korea in February 1985, based on the Use and Protection of Credit Information Act. Currently holding credit information on about 4 million corporations and about 38 million individuals in Korea, NICE provides information services to 97% of banks and 45% of corporations, which is the number one market share.

MHCB will use this memorandum of understanding in cooperation with Mizuho group companies including Mizuho Bank, Ltd. to proactively provide support to customers who are aiming to strengthen and expand business relationships with Korean corporations.

Re-disseminated by The Asian Banker