Korea's Exim Bank to open representative office in Yangon
The Export-Import Bank of Korea is now planning to open a representative office in Myanmar where there are more than 30 representative offices of international banks, according to the bank.
On December 18, the Directorate of Investment and Company Administration allowed the bank to open a representative office in Yangon to operate banking and financial services in the Southeast Asian country.
The bank, which has its headquarters in Seoul, was established in 1976. Its primary purpose is to support South Korea’s export-led economy by providing loans, financing mega-projects and thereby facilitating economic cooperation with other countries.
The bank mainly operates banking and banking management services. It has branches in the US, Japan, France, China, India, Indonesia, and United Arab Emirates.
In Myanmar, international firms including the UK’s Standard Chartered Bank, South Korea’s KB Kookmin Bank, and Taiwan’s E.SUN Bank have opened representative offices.
Although members of the Myanmar Banking Association have received approval to enter into joint ventures with international banks, the Central Bank has not yet allowed foreign banks to invest fully in Myanmar.
Woman human trafficker sued by her victim
A Myanmar woman sent to China as a victim of human trafficking reported her abduction to the Myanmar Police Force and is now suing the woman responsible for her ordeal, according to the force’s anti-trafficking unit.
The woman, who has asked not to be named, is from Kachin State. Chinese police rescued her from the traffickers and transferred her to the anti-trafficking unit at Lweje on December 30.
On May 5 last year, she and another woman had visited Yang Gyan Province in China to sell precious stones. While showing their merchandise to brokers, they met with Nyein Nyein, also known as “Ah Lwe,” a Myanmar woman they had met three years earlier who also lived in Kachin state and had opened a massage room there.
Nyein Nyein reportedly told the two women that she would help them sell their precious stones in Yang Gyan. She also offered them a place to stay there, as local hotels were very expensive. For these reasons, the two women moved into a house in Yang Gyan that was rented by Nyein Nyein.
While they were staying at the house, Nyein Nyein at first tried to persuade – before finally forcing – one of the women to marry a Chinese man. Police say that the other woman stayed at the house against her will. She begged Nyein Nyein for some travel funds, but was refused. Instead, Nyein Nyein told her that if she married a Chinese man the woman could send a lot of money to her family.
Then she confiscated the woman’s registration card and passport.
On May 18 at a village in Hunan, the other woman was forcibly married to a Chinese man at a cost of yuan 31,000 (Bt170,000). With that money, Nyein Nyein bought herself gold earrings worth yuan 2,500 and a gold chain worth yuan 8,000, and kept the remaining yuan 20,500. The Chinese man was identified as Phyu Yone.
Shortly after the wedding, the woman told Nyein Nyein that she wished to return home because her husband was abusing her.
Nyein Nyein replied that if she wanted to return home, the woman would have to pay her yuan 31,000. She agreed, and was able to return to Myanmar.
On January 1, she filed a suit against Nyein Nyein, aka Ah Lwe, at the Lweje police station under Section 24, which deals with human trafficking.
The victim currently remains at the human traffickers temporary protection centre, under the Social Welfare Department, in Muse. – Eleven Media
Korean music fest organisers warn of fake tickets
Organisers of the Korea Music Festival have warned fans to beware of buying fake tickets, as real tickets will only be available as of tomorrow.
“Many fans are interested in this Korea Music Festival. I heard that tickets have been sold for this concert.
These tickets are not real,” said Pee Paw from Pee Paw Entertainment, the organiser of the Korea Music Festival.
“We will only sell the tickets after January 11. Fans can only go inside with the real tickets so they need to be aware of fake tickets,” he added.
Actor Song II Kook and other Korean idol groups – Sistar, After School, ZE:A, and U-Kiss – will perform at the concert being held at the National Theatre in Yangon on February 8. – Eleven Media
