Deutsche Bank increases South Korean capital
The bank added EU150m in capital allocation for its Seoul branch.
Deutsche Bank is boosting its capital allocation for its Seoul branch by EU150m, marking a 36.7% increase in investment as it plans to expand business operations and better serve clients in South Korea.
Alexander von zur Muehlen, CEO of Asia Pacific, Europe, Middle East & Africa (EMEA), and Germany, and Member of the Management Board, said they are optimistic about the opportunities in South Korea, driving this increased investment.
The capital infusion was formalised during a meeting in Frankfurt with the governor of the Korean Financial Supervisory Service (FSS), highlighting the robust economic ties between Korea and Germany, coinciding with the celebration of 140 years of diplomatic relations between the two nations this year.