Societe Generale Corporate & Investment Banking (SGCIB) has been granted a financial investment business licence by the Republic of Korea’s Financial Services Commission in Seoul.

The licence will enable the bank to conduct financial investment dealings in securities, equity underlying exchange-traded derivatives and over-the-counter derivatives.

According to journal Asia Asset Management, the French bank will also conduct financial investment brokerage activities in securities and equity underlying exchange-traded derivatives.

These activities will operate under SG Securities Korea, a new locally incorporated subsidiary of SGCIB.

Hikaru Ogata, CEO of SGCIB for Asia Pacific, said: "This licence marks an important step for the bank in extending its service offering, and will allow us to fully support our clients’ growth ambitions in Korea."