The Singapore-based United Overseas Bank said Thursday that it has opened an advisory center for foreign direct investment in Seoul to support South Korean and ASEAN firms seeking to invest in broader regional markets.
The new office marks the expansion of the bank's dedicated Korean desk in Singapore, and it is the bank's 11th such center across Asia, including locations in Japan, China, Hong Kong and Vietnam.
"The establishment of the office will empower Korean businesses with opportunities for international expansion, enhance global investors' access to the Korean market and reinforce UOB's position as a leading financial institution in Asia's dynamic investment landscape," UOB said in a press release.
The bank noted major factors that currently affect corporate overseas investment included "the realignment of global supply chains, the expansion of value chains, regional economic cooperation and net-zero policies."
Since launching its FDI advisory services in 2011, UOB has assisted more than 5,000 companies in expanding into overseas markets, according to the bank.
Last year, FDI pledges to South Korea rose 5.7 percent from a year earlier to a record high of $34.5 billion.
Offshore investments made by South Korean companies, however, fell 1.8 percent on-year to $63.95 billion in 2024 amid uncertainties, government data showed earlier. (Yonhap)
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