Macquarie wins prelim banking license in S.Korea
Published: 05 Nov 2009 00:49:43 PSTSEOUL, Nov 5 - Australia's Macquarie Group Ltd <MQG.AX> has won a preliminary license to start banking operations in South Korea, a regulatory official and Macquarie said on Thursday.
The official at the Financial Supervisory Service said Macquarie aimed to win final approval within the year to set up a branch in Seoul.
Macquarie has been engaged in brokerage, and project and infrastructure financing in South Korea, and is planning to expand into lending and foreign exchange-related businesses.
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