Abu Dhabi: As part of its strategic expansion plan, FGB, one of the leading banks in the UAE, has set up a new representative office in Seoul, South Korea.

FGB’s new office will strengthen the bank’s presence in the Asia Pacific region, in addition to its branch in Singapore and its representative office in Hong Kong. The Seoul office will work on supporting existing FGB clients’ operations which also have a presence in Korea, in addition to providing services to Korean investors and companies that are active in the UAE, GCC and across Asia, FGB said in a statement.

‘Logical next step’

“Our new representative office in Seoul comes as a logical next step for our international expansion strategy. FGB’s approach towards global expansion has always been very strategic and calculated, to ensure that it complements our local operations and the needs of our clients, and that it is in line with our overall vision and direction,” said Andre Sayegh, CEO of FGB.

The new representative office will be FGB’s main point of contact with Korean companies. “The establishment of the new representative office is a significant step to boost our “Initially the focus of operation will be on financing, treasury and trade support. FGB will also extend its services to its existing clientele base through the office by leveraging relationships and creating new business partnerships,” said Simon Penney, Head of Wholesale Banking Group.

Woojin Han will be heading the new office. He joins FGB from ING where he worked as Director & Head FI Korea and Mongolia managing the company’s banking and non-banking clients.