The Northern Trust Company, a major US banking services provider based in Chicago, has been allowed to open a branch in South Korea, financial regulators said Wednesday.
The Northern Trust Company operates as a subsidiary of Northern Trust Corporation which provides investment management, asset and fund administration, fiduciary and banking services.
The Financial Services Commission said it has approved a request from the US company to open a branch in Seoul. There are 43 foreign financial institutions operating in South Korea.
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