Threadneedle Investments, a UK-based asset manager, is set to open a new representative office in Seoul, South Korea in a move to expand the firm’s presence in Asia.

The firm has appointed Chris Lee as the Korea chief representative from Samsung Asset Management.

The new representative office will develop relationships with institutional investors.

At Samsung Asset Management, Korea, Lee led the global business as head of overseas investment team in the global business division and was responsible for global asset allocation funds and managing key relationships with Korean institutional investors.

Previously, he also headed Samsung Asset Management’s operations in Singapore.

Raymundo Yu, chairman of Asia Pacific at Threadneedle Investments, said: "We believe that Korea presents great opportunities for us to serve institutional investors in Asia by offering our suite of outstanding investment strategies across asset classes. The opening of our Korean representative office marks yet another key milestone for Threadneedle’s growing presence in Asia."

Threadneedle already has offices in Singapore, Hong Kong, Taiwan and Malaysia.