Sabah – The first South Korean investment into Turkey following the activation of the free trade agreement (FTA) between the two countries at the beginning of May has been materialized as a representative office of Korea Exchange Bank (KEB) in Istanbul.
The first South Korean lender to have a presence in Turkey, KEB’s Istanbul office will serve South Korean companies considering doing business in Turkey. The bank will look into offering banking services in Turkey at the earliest date possible, according to its CEO Yun Yong-ro. Speaking to the press at the opening ceremony, Yong-ro said that the bank would work towards bolstering the economic cooperation between Turkey and South Korea, and praised Istanbul’s progress in becoming an international finance center. “Our operations in Eastern Europe and the Middle East will be run from Istanbul..”, he said.
Turkey’s financial capital is rapidly becoming an international finance hub with its surging trade, attractive stock market and an increasing concentration of domestic and international financial institutions.