Merrill Lynch expands in South Korea

After landing a full-scope derivatives license the bank announces new hires.

Merrill Lynch is building its Korea business.

For a start, the Seoul branch says it has received a full-scope derivatives license that will enable the firm to structure, trade, and sell a complete array of derivative instruments in the Korean market that are custom-designed to meet local and global market needs.

We are gratified to receive this new license as it underlines the public trust Merrill Lynch has established in Korea, says Hyung Ho Choi, head of Merrill Lynch's operation in Korea. We anticipate substantial growth of our business in Korea as this market strengthens and as transparency and governance continue to improve.

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