ING Bank strengthens Korea presence with new securities branch

Stocks and Financial Services Press Releases Wednesday August 31, 2016 17:00
The Asian Banker--1 Sep--Asian Banker

ING Bank announced that it has obtained a securities branch license from the Financial Services Commission (FSC) of Korea. The new ING Seoul Securities Branch located at Seoul Finance Center, Sejong-daero will begin operations immediately.

ING Bank established a Branch presence in Seoul 25 years ago (in 1991) and has become one of the leading international banks in the country. In Korea, a separate securities license is necessary to conduct the full range of capital market activities as there is a strict barrier between banking and securities businesses.

The new Securities Branch will expand ING's product and client coverage by offering capital market products to corporate clients and financial institutions in Korea.

"ING has built a strong client base and track record in Korea over the last 25 years. We are therefore delighted to be able to offer our customers access to capital market products now. Korean companies have been expanding and we have seen a growing demand from them for European and US assets in the current low interest rate environment. I am confident this expanded capacity, together with our commercial banking activities at the branch, will better fit our clients' needs," said Jonghoon Hyun, Country Manager ING Korea.

ING has appointed Son Young Chang, previously Managing Director of Financial Markets at the Bank branch, as the ING Seoul Securities Branch Manager. YC Son will lead a dedicated team at the new branch to originate, structure, underwrite and distribute debt capital market and alternative investment assets to existing and new corporate and institutional clients in Korea.

"This new branch in Korea is in line with ING's ambition in Asia to strengthen relationships with our existing Korean clients and expand our client base while leveraging our global network across 40 countries including Europe, the Americas and 13 markets in the Asia Pacific," said Remko Witteveen, Regional Head of Financial Markets Asia at ING Wholesale Banking.

--www.theasianbanker.com (Aug 31, 2016)--

Latest Press Release

FSS Launches a Risk-Based Authentication Solution to Bolster Security For Digital Transactions

FSS (Financial Software and Systems), a global payments technology company, has launched FSS Secure3D, its new-generation adaptive authentication solution based on the EMVCo 3DS 2.0 protocol. Globally, across regions, banks need to implement 3DS2.0...

PwC: Assets under management in Asia Pacific to rise to USD29.6 trillion by 2025, faster than any other region

The Asia Pacific (APAC) asset and wealth management industry is expected to be the centre for global Assets under management (AuM) growth in the coming years. According to the PwC report 'Asset and Wealth Management 2025: The Asia Awakening', APAC AuM...

OnMiners Mining Rigs Offering Market#s Fastest ROI

OnMiners S.A (http://www.onminers.com) is quickly making a strong impact in the crypto mining industry by offering the market's fastest return on investment. The company recently hit the headlines by introducing three multi-algorithm mining rigs that...

The Mall Groups Department Stores partner with SCB to offer sizzling promotions with a chance to win RIMOWA luggage

The Mall, Emporium, EmQuartier and Paragon Department Stores joined forces with SCB to hold "Made in Summer" campaign from today to 17 April 2019 to delight shoppers with superb promotions: shop to receive coupons with up to 40% discount; a chance to win...

Bangkok Bank InnoHub Season 2 showcases innovative technologies from eight finalists at Demo Day 2019

Bangkok Bank InnoHub, the first global FinTech accelerator in Thailand, has showcased innovations and real-use cases from the program's eight finalists to the public, potential investors and others in Thailand's innovation ecosystem on Demo Day. The...

Related Topics