Samsung Securities, which is the brokerage unit of conglomerate Samsung Group, declined to comment on the news.
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A regulatory filing showed there were 161 employees in its overseas operations by the end of September, of a total of 3,733. The brokerage has businesses in Hong Kong, London, Tokyo, Shanghai and New York, according to the website.
Samsung now has about 130 employees working overseas, with roughly 100 of them based in Hong Kong, one source told Reuters.
In Asia outside Korea, Samsung Securities had been focusing mainly on brokerage for equities and stock research.
According to Reuters, the retrenchment to Seoul carries significant symbolic weight, as the aggressive push by Samsung Securities came at a time when other banks and brokerages saw a similar, golden opportunity.
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By GlobalDataThe business outside Korea was being run from Hong Kong, headed by Sung-June Hwang, the global head of equities for Samsung Securities and chief executive for Asia ex-Korea.
