The decision from Deutsche Bank to invest more money in its South Korea operations is supported by the company’s belief in the market’s long-term stability and expansion prospects.
Korean Financial Supervisory Service (FSS) governor, Lee Bok-hyun, and the global management team of Deutsche Bank met in Frankfurt, Germany, and discussed the capital infusion strategy.
The present state of the Korean financial market, the investment climate, and the future course of the nation’s financial supervision policies were all topics of discussion between the parties.
Bok-hyun visit to the headquarters of Deutsche Bank was made in honour of the close links between Korea and Germany, which this year commemorate 140 years of diplomatic relations, and the bank’s widespread support for the nation.
After establishing a local presence in 1978, Deutsche Bank’s Seoul Branch has been in operation for 45 years.
Since South Korea has Asia’s fourth-largest economy, it continues to be crucial to the growth of the bank’s Asia Pacific franchise.
Clients of Deutsche Bank, which includes global companies, sizable local corporations, and financial institutions in South Korea, can choose from a wide range of solutions.
Additionally, it offers asset management via DWS, a subsidiary of Deutsche Bank.
With expansion in both the front office and support divisions, Deutsche Bank Korea’s investment banking branch is continuing to outpace the industry.
Having recently re-entered the South Korean debt capital market (DCM), the bank is now able to assist a variety of South Korean clients in gaining access to global debt markets.
It also enhances and broadens the capabilities of investment banking, complementing its strong consulting business.
Deutsche Bank CEO of Asia-Pacific, Europe, Middle East & Africa (EMEA) and Germany and member of the management board, Alexander von zur Muehlen said: “We see great opportunities in South Korea and are investing accordingly. This additional capital, along with our recent re-entry of the local debt capital market, will enable us to better support our clients’ expansion plans in the country and reinforce the successful platform that we have built over past decades.”
Branch manager for Deutsche Bank Seoul Branch, Hyun-Nam Park added: “We are proud of the strong business that we have built in Seoul over the past 45 years. This additional capital is recognition of our success to date and signifies confidence in the future of both our platform as well as South Korea’s strategic role as a Northeast Asian financial hub. By strengthening and broadening our capabilities, we are well positioned to take our business to the next level and be the leading foreign bank in South Korea.”