BUSAN < invest Korea

According to Yonhap News,

(SEOUL=Yonhap News) South Korea's financial authorities said Thursday they have staged a campaign in Shanghai and Jakarta to help attract financial firms there to open offices in Busan, seeking to make the city into a regional financial hub.

The Financial Supervisory Service (FSS) held an IR session in Shanghai last week to publicize the initiative by the nation's southern port city.

In another joint program with the Busan city government, the FSS opened a similar two-day event in Jakarta earlier Thursday.

Asian financial firms are believed to have "relatively more room" to launch new businesses in South Korea than American or European ones, some of which are closing or scaling down local operations, the FSS said in a statement. 

Seo Tae-jong (4th from L), senior deputy governor of South Korea's Financial Supervisory Service (FSS), poses for a photo, provided by the FSS, along with Indonesian officials at the Jakarta headquarters of Indonesia's Financial Services Authority on Oct. 20, 2016. (Yonhap)

As part of the campaign, Seo Tae-jong, senior deputy governor of the FSS, visited the headquarters of Indonesia's Financial Services Authority for discussions on closer partnerships.

Meanwhile, the Korea Exchange (KRX), South Korea's sole bourse operator, said it is participating in the 32nd annual Futures & Options Expo underway in Chicago.

Hosted by the Futures Industry Association, the expo is the world's largest event specializing in derivative-related investment products.

"With the participation in the event, the KRX is trying to strengthen its status as a derivative trading hub of Asia, broaden cooperation with global stock exchanges and also expand investment by major institutional investors (into the South Korean market)," the Seoul bourse said.

lcd@yna.co.kr

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