Woori Bank teams up with BuildBlock on US real estate services

South Korea's Woori Bank and US real estate platform operator BuildBlock have entered into a strategic memorandum of understanding to bolster overseas property investments, the bank said on Sunday.

Founded in Silicon Valley in 2018, BuildBlock is a Korean-origin startup headquartered in the US, offering a plethora of real estate services.

These range from residential and commercial real estate brokerage in key areas such as Hawaii, Los Angeles and New York, to maintenance, post-sale payment recovery and tax support.

The venture has been backed by the Woori Financial Group's incubation initiative, DinoLab.

With this partnership in play, Woori Bank aims to bridge its clientele with BuildBlock, facilitating smoother foreign real estate acquisitions and related foreign exchange procedures.

"This collaboration paves the way for our customers to effortlessly venture into overseas real estate investments," remarked a Woori Bank official.

Write to Eui-Jin Jeong at justin@hankyung.com