Woori Bank's London Trading Center Receives UK Approval, Set to Open This Month

Woori Bank announced that its London Trading Center has received approval from the UK government, allowing it to support foreign investment in Korean won. The center aims to expand its non-interest income base by connecting local capital markets with the domestic financial market.

On June 9, Woori Bank revealed that the London Trading Center has obtained the necessary licenses for client-facing derivatives trading and securities management from UK financial authorities.

To enhance accessibility for foreign investors to the domestic foreign exchange and capital markets, Woori Bank began establishing the London Trading Center in January of last year. The application was submitted to UK authorities in July of the same year, and final approval was granted approximately ten months later.

The London Trading Center plans to offer package trading that combines Korean Treasury bond investments with currency hedging for foreign investors. It will also provide foreign exchange and interest rate derivative services to Korean companies operating in the region. The center is expected to commence operations later this month after completing internal procedures.

A Woori Bank official stated, "With the approval of the London Trading Center, we have created an environment where foreign investors can more easily invest in domestic won assets. We will serve as a bridge to help foreign investors invest in domestic won assets conveniently and efficiently."