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V2 Video Conference lands Korea's second bank - Woori Bank

Apr 02, 2009

March 2009, following the adoption of V2 Video Conference by the Korean companies Hanwha Group, Korea Life, Shinil Group, Langsclub Group, ASAP Group and Dreampharm Resort Group, Korea's second largest bank, the Woori Bank, has used the V2 Conference system to run a large scale video conference. The successful adoption by Woori Bank signifies the widespread acceptance and recognition of the V2 system ( in the Asia Pacific region.

The Woori Bank of Korea is the second largest bank in Korea, in terms of its assets. It was formed in January 1899 and is the largest company under the flag of Korea's largest financial group, the Woori Financial Group. Woori Bank is also Korea's only nationally owned bank, having been formed by a merger of the Commercial Bank of Korea and the Hanil Bank during the Asian financial crisis. At the end of 2006, its assets reached  201.2 billion US dollars, and its net profit was 1.76 billion dollars.

In order to improve their internal management, Woori Bank decided to install a video conferencing system. They asked for a system based on a broadband network, to establish contact between headquarters and all subsidiary branches. They needed sound, pictures and mutual demonstration, thus establishing a video conferencing system between branches of second grade and above. At the same time, the headquarters was able to strengthen their effective control and management of subsidiary branches, realising effective office work, saving conference expenses and using mutual multi-media technology to achieve direct, reliable, quick and clear conferencing capabilities, thus allowing the bank to gradually realise their goal of improving secure vertical management on the basis of convenient and fast technology. Furthermore, all branches can use the system to improve their work efficiency and carry out interactive training, technical enquiries and so on.

After making extensive enquiries in Korea, Woori Bank found V2 Technology in Korea's Golden Distributor and trialled the video conference system. As China's foremost supplier of video conferencing technology, V2 has, for the last ten years, concentrated completely on audiovisual research. Its flagship product, V2 Conference video conference system, contains two systems based on their own patents, providing the world's clearest and most fluent sound and video, using the minimum bandwidth, safe and reliable, flexible and compatible, requiring the lowest capital investment and the least maintenance by specialist personnel, etc. It has already been adopted by many noted Chinese organisations, such as the National Earthquake Bureau, Coca Cola, Legend Holdings, Wal-Mart, Galanz, China Pacific Insurance, China Railway No.9 Group, DHL, Shijiazhuang Electric, Guangdong Fire Department, Capital Iron and Steel Group, Guangzhou Honda, TCL, Nanfang Media Group, China Telecom head office, Taiwan Red Cross, Tsinghua University and so on. After using the V2 Conference system, Woori Bank overwhelmingly approved it and quickly installed it. Their headquarters spokesperson said that the system was much more flexible than traditional hardware based systems, also it was highly secure, adaptable to a wide range of uses and maintenance free. Not only this, but the system combined all the newest and most useful tools for instant communication, email, short messages, coordinated office working and other tools, it could be immediately put to use and was essentially as secure as Internet banking, with multiple servers and multi-level technology so that no matter what the network environment was like, the highest possible audiovisual efficiency could be obtained, which basically satisfied all their requirements. Moreover, Woori Bank decided to go ahead with wide scale installations of V2 Conference in the near future.

With regard to overseas markets, because climate and geography, local customs, laws and regulations and other local conditions are very different from those in China, V2 Technology are always very careful to thoroughly research the local economic conditions, customer expectations, local competitors' pricing strategies, local customs and regulations and so on. Thailand's Pokphand Group, Japan's Panasonic research centre, Singapore's XinMin Primary School and many other overseas clients indicate that they can put the V2 Conference video conferencing software to long-term use, and can also upgrade it free of charge within a year, and that the product's audiovisual quality, security, stability and seamless compatibility with their existing hardware is thoroughly in accordance with their requirements. Also, V2 Technology supplies 24-7 technical support to overseas customers, which gives them full confidence in their purchase.

There is ample evidence that the development of the world's economy causes industrial activity in every country and region of the world to become ever more closely linked, and this causes the requirements of the world market for software to become more and more exacting. The V2 Conference video conference system, being recognised as the top brand in its field in China, while being acclaimed by thousands of Chinese customers, has also made great advances in the Asia Pacific region and has already gained a foothold in the European and American markets. It has swept into foreign video conferencing markets and successively won bids to supply systems for the Panasonic Research Centre (Japan), Mitsui Shipbuilding (Japan), the Hanwha Group (Korea), FE Global Electronics (Singapore) and other renowned foreign companies, and in the hotly competitive western market it has obtained breakthrough contracts such as Queen Mary Hospital, Seoul University etc. Up to the present, V2 Technology has already established representatives and sales partnerships in more than ten foreign countries and regions, while at the same time it has several hundred foreign corporate clients who have successfully implemented their video conferencing system.