Morgan Stanley gains Korean banking license

US investment bank expands Korean operations.

Morgan Stanley has opened a branch office of Morgan Stanley Bank International in Seoul. The new office, which was opened late last week, cements a 13-year history in the country.

In addition to the bank's existing investment banking and private equity businesses, the new license will allow it to offer a wider variety of products including foreign exchange, loans, deposits and financial derivatives.

Acting President Zoe Cruz, who attended the opening commented,...

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