UOB has launched its 11th Foreign Direct Investment (FDI) Advisory Centre in Seoul to support the growing number of Korean businesses expanding into Southeast Asia.
This move comes as Korean investment in the region more than doubled from US$5bn in 2017 to US$10.9bn in 2023.
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The office builds on UOB’s Korea desk in Singapore, which launched in 2023 to satisfy growing demand from Korean companies seeking global development opportunities.
It will offer bespoke solutions like as market entrance guidance, regulatory support, finance, and risk management, drawing on UOB’s wide network and expertise in ASEAN.
Wee Ee Cheong, deputy chairman and chief executive officer, UOB, stated: “South Korea is one of ASEAN’s top trading partners and a leading investor in Southeast Asia. FDI flows from South Korea into Southeast Asia have grown significantly in recent years driven by companies’ strategic expansions into key markets such as Indonesia, Vietnam and Singapore. With our strength in regional connectivity, deep local knowledge, and sector expertise, UOB is well positioned to help our clients tap these cross-border opportunities.”
Since establishing its FDI Advisory Unit in 2011, UOB has assisted over 150 Korean companies with their Southeast Asian development, supporting almost S$3bn in expected investments. The bank anticipates this trend to accelerate as supply chains shift, trade tensions rise, and the region’s digital economy expands.
Furthermore, its launch coincided with the Korea-ASEAN Business Forum in Seoul, which UOB co-hosted with PwC, law firm Kim & Chang, and government agencies from Singapore, Indonesia, Thailand, Malaysia, and Vietnam. The gathering brought together 120 people to discuss investment potential in the region.
UOB’s FDI Advisory Unit has helped 5,000 companies expand regionally, with investments exceeding S$50bn and creating over 250,000 jobs since 2020. The Seoul centre is expected to further strengthen economic ties between South Korea and ASEAN, reinforcing the region’s role as a key destination for Korean businesses.
