Singapore's United Overseas Bank is looking to join the fray of foreign houses setting up trading desks for Korea's onshore interest derivatives market. Yang Tay Ho, v.p. in Seoul, said it will likely hire one or two traders locally for the effort, but declined further comment.
Relatively new entrants such as Barclays Capital (DW, 1/15/02) and Bank One (DW, 2/03) have been setting up onshore desks to take on Citigroup, Deutsche Bank and HSBC. At the same time, a growing number of local shops, including Korea First Bank, have entered the arena this year (DW, 3/16).
