According to a regulatory official, as reported by Reuters, Royal Bank of Scotland is in talks with South Korean regulators to open its first branch in the country.
As cited in Reuters, an official of the Korean regulatory Financial Supervisory Service said: We are working to help Royal Bank of Scotland (RBS) to apply for operations.
RBS expects to begin operations in South Korea by early 2008, an RBS official has revealed, as reported by Reuters, citing Financial News as its source.
Reuters also cited the South Korean newspaper as reporting that the bank intends to focus on corporate banking and foreign exchange trade, but did not give further details.