Seoul: The Singapore-based United Overseas Bank (UOB) announced that it has opened an advisory center for foreign direct investment (FDI) in Seoul to support South Korean and ASEAN firms seeking to invest in broader regional markets.
According to Yonhap News Agency, the new office signifies the expansion of the bank's dedicated Korean desk in Singapore and becomes the bank's 11th such center across Asia, with other locations in Japan, China, Hong Kong, and Vietnam. UOB stated that this establishment will offer Korean businesses international expansion opportunities, enhance global investors' access to the Korean market, and reinforce UOB's position as a leading financial institution in Asia's investment landscape.
The bank highlighted factors influencing corporate overseas investment, including the realignment of global supply chains, expansion of value chains, regional economic cooperation, and net-zero policies. Since the inception of its FDI advisory services in 2011, UOB has supported more than 5,000 companies in expanding into overseas markets.
Last year, FDI pledges to South Korea increased by 5.7 percent from the previous year to a record high of US$34.5 billion. Meanwhile, offshore investments made by South Korean companies decreased by 1.8 percent year-on-year to $63.95 billion in 2024 amidst uncertainties, as indicated by government data.