Shinhan Bank is moving to support small and midsized companies preparing to enter the U.S. market. As changes in the U.S. trade environment and a reshaping of global supply chains accelerate, the bank plans to provide practical information needed for local expansion, from setting up a corporation to tax and accounting and financial support, to underpin companies' overseas business expansion.

Shinhan Bank said on May 22 it held the "4th K-Global Leap Cooperation Forum: Conference to Support Entry into the United States" on May 21 at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, together with the Ministry of SMEs and Startups and the chamber.

The K-Global Leap Cooperation Forum is a programme designed to support overseas expansion by South Korean small and midsized companies. This event was the fourth to be held, following Vietnam, Europe and Central Asia.

It focused on providing practical information to companies considering local expansion in response to changes in the U.S. trade environment and the reshaping of global supply chains.

The conference introduced U.S. market entry strategies and industrial environments by major states, an overseas expansion guarantee system, site selection strategies by industry, practical work for setting up U.S. corporations and tax and accounting, and procedures for foreign direct investment.

Shinhan Bank also provided guidance on the foreign direct investment process and financial support measures for companies. One-on-one tailored integrated consultations were also held on site with experts in finance, law and tax.

Shinhan Bank currently provides customised services centred on its North America FDI Center, including local corporation establishment and foreign direct investment reporting, financial support, investment advisory and connections to local networks.

A Shinhan Bank official said the bank would continue to strengthen financial and non-financial support to help companies expanding overseas broaden their global business in a stable way.