The Second Chinese Brokerage in Korea
As China Everbright Bank is planning to expand its business to the South Korean investment banking market, expectations for inflow of “China money” are growing.
According to the financial authorities on May 27, the local branch of China Everbright Bank has filed an application with the Financial Services Commission (FSC) for a license to engage in the investment banking business.
The Seoul unit of China Everbright Bank is seeking a license for over-the-counter trading of currency and interest rate derivatives. The FSC said it is checking whether the local branch of the Chinese lender is qualified to conduct such business here.
If China Everbright Bank wins the final go-ahead from the FSC, it will become the second Chinese financial company to enter the securities industry of South Korea.