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November 18, 2009
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| A top Australian financial company is interested in making the International Finance Centre (IFC) Seoul in Yeouido, western Seoul, its Northeast Asia headquarters. The center is slated for completion in 2012. Oh Se-hoon, the mayor of Seoul, signed a memorandum of understanding in Hong Kong yesterday with Macquarie Corporate and Asset Finance as part of efforts to attract investment from foreign investment firms in Singapore and Hong Kong. The Australian company, which is based in Sydney, has overseas offices in 28 countries, providing financial services ranging from fund management, investment, finance and banking, according to Seoul city government. It will be a coup for Seoul if a deal is struck and the affiliate of Macquarie Group, a global investment group, sets up in Korea. The company will be able to offer advanced financial service to Korean customers while Seoul city will enjoy continuous investment, Seoul city government officials said. Oh was in Hong Kong for yesterday’s Financial Hub Korea Conference, cohosted by the Seoul Metropolitan Government and Financial Supervisory Service. Over 90 CEOs from international financial firms are expected to attend the event, which is geared toward attracting foreign investment and promoting the policies toward international firms. “CEOs I met at the conference requested deregulation for foreign firms and simplifying regulations to speed up the approval process of foreign businesses, improving the communication channel and easing the tax system,” Oh said. “Seoul city government will work together with the central government to bring about deregulation and tax system reforms.” Meanwhile, Seoul city announced on Monday that it will establish international terminals in Yeouido and Yongsan to offer cruises aimed at tourists from Japan and China starting from 2012. By Kim Mi-ju [mijukim@joongang.co.kr] |
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